Area foreclosure rate double national rate

October 25, 2012

Foreclosure rates in Pensacola-Ferry Pass-Brent increased for the month of August over the same period last year, according to newly released data from CoreLogic, a leading provider of consumer, financial and property information, analytics and services to business and government. The rates were more than twice the national rates

The CoreLogic data reveals that the rate of Pensacola-Ferry Pass-Brent area foreclosures among outstanding mortgage loans was 6.79 percent for the month of August 2012, an increase of 0.69 percentage points compared to August of 2011 when the rate was 6.10 percent. Foreclosure activity in Pensacola-Ferry Pass-Brent was more than double the national foreclosure rate, which was 3.35 percent for August 2012.

Also in Pensacola-Ferry Pass-Brent, the mortgage delinquency rate increased. According to CoreLogic data for August 2012, 9.92 percent of mortgage loans were 90 days or more delinquent compared to 9.24 percent for the same period last year, representing an increase of 0.68 percentage points.

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