The foreclosure rate in Tallahassee has climbed again compared to last year, according to July figures just released by research firm CoreLogic.
The CoreLogic data shows that Tallahassee area foreclosures among outstanding mortgage loans are 5.50 percent for the month of July, up from 4.35 percent in July 2010.
In June, the rate was 5.44 percent. CoreLogic's figures show that the area's foreclosure rate has climbed steadily in all but two months since January 2009, when the rate was 2.14 percent.
The statistics include Leon, Wakulla, Gadsden and Jefferson counties.
The July 2011 foreclosure rate for Florida was 12.22 percent. The figure for the U.S. as a whole was 3.44 percent.
CoreLogic also tracks the area's mortgage delinquency rate, defined as the percentage of loans that are more than 90 days past due, including those in foreclosure and REO properties, those "real estate owned" properties owned by a lender, a government agency or loan insurer after unsuccessful attempts at selling them.
According to CoreLogic data for July, 8.31 percent of mortgage loans were 90 days or more delinquent, compared to 7.46 percent for the same period last year.
*Written by Dave Hodges - Business Matters Editor
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