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Foreclosure rates up in Fresno PDF Print E-mail
Tuesday, 07 July 2009 13:37

ForeclosuresIn May, the number of foreclosures in Fresno increased by 1.4 percent over the same time last year.

According to First American CoreLogic, which collects housing data on a local, state and national level, Fresno’s May foreclosure rates were 3.5 percent. In May of 2008, those rates were at 2.1 percent.

Nationally, the foreclosure rate was at 2.5 percent.

First American CoreLogic’s report stated that from June 2008 to May 2009, a total of 21,514 foreclosures were filed, averaging 58.94 filings per day. The previous year saw 13,561 filing or 37.15 per day.

The number of mortgage delinquencies were also up. The report showed that 10 percent of loans were 90 days past due or more in Fresno. In May of 2008, that number sat at about 6 percent. The overall national percentage of mortgage delinquencies was 6.5 percent and 9.2 percent in California.

Representatives for First American CoreLogic were unclear if the 90-day moratorium on the foreclosure process that was enacted in June of this year would have an effect on numbers over the past two months.