Valley's Foreclosure, Delinquency Rates Decline

YOUNGSTOWN, Ohio -- Foreclosure rates in March for the metropolitan area covering Mahoning and Trumbull counties in Ohio and Mercer County, Pa., declined by nearly 1.5 percentage points from a year earlier, according to the latest monthly report from CoreLogic.

The rate of foreclosures in the Youngstown-Warren-Boardman metropolitan statistical area for outstanding mortgage loans in March was 2.78%, down 1.43 percentage points from 4.21% in March 2013. Despite the decline, foreclosure activity in the Youngstown-Warren-Boardman MSA was higher than the national foreclosure rate for the month, 1.86%, as well as Ohio’s foreclosure rate, 1.87%.

In addition to the foreclosure rate decrease, the mortgage delinquency rate declined for Youngstown-Warren-Boardman over the year. In March, 6.67% of mortgage loans were 90 days or more delinquent, down from 7.84% for March 2013. 

In Ohio, the rate of loans delinquent 90 or more days was 5.04% in March, down from 6.2% in March 2013. The U.S. rate for loans delinquent for 90 or more days was 4.66%, down from 6.03% a year earlier.

CoreLogic, based in Irvine, Calif., tracks property information and analytics, and is a data-enabled services provider serving customers worldwide.

Published by The Business Journal, Youngstown, Ohio.
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