Corelogic released today its March 2012 report on delinquencies and foreclosures. According to the report,
the number of homes with mortgages that were more than 90 days
delinquent in the US were down 0.5 percent during March when compared
to March 2011. The foreclosure inventory was down 0.1 percent over
the same period. Nationally, 3.4 percent of all homes with mortgages
were in the foreclosure inventory, and 7.0 percent of loans were 90+
days delinquent.
In Colorado, the number of homes with
mortgages that were more than 90 days delinquent fell by 0.6 percent
from March 2011 to March 2012. Over the same period, the
percentage of homes with mortgages that were in the foreclosure
inventory fell by 0.4 percent.
3.8 percent of homes
with mortgages in Colorado were more than 90-days delinquent while 1.4
percent of all homes with mortgages were in foreclosure.
Overall, the proportion of homes affected in Colorado was substantially smaller in Colorado than in the nation as a whole.
43
states reported higher rates of 90-day delinquency than Colorado. Only 6
states reported lower rates: Montana, Alaska, Wyoming, Nebraska and The
Dakotas.
States with significantly higher rates of
delinquency and foreclosure were Nevada, Florida and New Jersey.
41 states reported foreclosure inventory
rates that were higher than Colorado's rate of 1.4 percent. Only 4
states reported lower foreclosure inventory rates: North Dakota,
Nebraska, Alaska and Wyoming. Four states reported the same foreclosure
inventory rate as Colorado.
The states with the
highest foreclosure inventory rates were Nevada, Florida, New Jersey and
Illinois.
According to the report, 3.9
percent of all homes with mortgages in the Denver-Aurora-Broomfield area
were 90 days or more delinquent, which placed the Denver area last
among 25 metro. All other metro areas reported higher delinquency
rates. In Chicago, for example, the 90+-day delinquency rate was 10.5
percent during March.
The
Denver area was also last among all metros in its foreclosure
inventory. 1.4 percent of all loans with mortgages were in foreclosure
in the Denver area. In Chicago, the rate was 6.4 percent.
