Foreclosure rates decrease for the month of May

Foreclosure rates in Jackson decreased for the month of May over the same period last year, according to newly released data from CoreLogic. The CoreLogic data reveals that the rate of Jackson area foreclosures among outstanding mortgage loans was 2.23 percent for the month of May 2012, a decrease of 0.42 percentage points compared to May of 2011 when the rate was 2.65 percent. Foreclosure activity in Jackson was lower than the national foreclosure rate, which was 3.41 percent for May 2012. Also in Jackson, the mortgage delinquency rate decreased. According to CoreLogic data for May 2012, 5.97 percent of mortgage loans were 90 days or more delinquent compared to 6.48 percent for the same period last year, representing a decrease of 0.51 percentage points. Published: Mon, Jul 30, 2012

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