Foreclosure Rates in St. Louis increase

9:20 AM, Mar 22, 2011   |    comments
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St. Louis (KSDK) -- Foreclosure rates in St. Louis have increased for the month of December over the same period last year, according to CoreLogic.

According to data from CoreLogic on foreclosures for the St. Louis area, the rate of foreclosures among outstanding mortgage loans is 1.76 percent for the month of December 2010, an increase of 0.42 percentage points compared to December of 2009 when the rate was 1.34 percent.

Foreclosure activity in St. Louis is lower than the national foreclosure rate which was 3.58 percent for December 2010, representing a 1.82 percentage point difference.

Also in St. Louis, the mortgage delinquency rate has decreased. According to CoreLogic data for December 2010, 5.14 percent of mortgage loans were 90 days or more delinquent compared to 5.74 percent for the same period last year, representing a decrease of -0.60 percentage points.

As of December 2010, 0.49 percent of homes with a mortgage in St. Louis were in REO (real estate owned) status, meaning after they were not sold at auction, they were returned to possession of the lender. This is an increase over one year prior when 0.41 percent of homes were in REO status.


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