April foreclosure rates drop in Fresno

Home foreclosure rates in Fresno decreased for the month of April compared to the same month last year, Core Logic, a provider of consumer, financial and property information, reports.

Foreclosure rates also dropped in Kings, Madera and Tulare counties. Core Logic data shows that Fresno area foreclosures among outstanding mortgage loans was 2.74 percent for April 2012, a decrease of 0.32 percentage points compared to the same month in 2011 when the rate was 3.06 percent.

Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 3.41 percent for April 2012.

April foreclosure rate was 2.48 percent in Kings County, 3.26 percent in Madera County and 2.73 percent in Tulare County. That’s a drop of 0.06 percent in Kings County, 0.72 percent in Madera County and 0.28 percent in Tulare County from April of 2011.

Fresno’s mortgage delinquency rate also fell for the month of April. In Fresno, 7.23 percent of mortgage loans were 90 days or more delinquent in April, compared to 9.12 percent for the same month last year.

At least part of the foreclosure decline is attributed to homeowners and banks working together on options to prevent foreclosures. Possible options include refinancing, repayment plans and loan modifications.