Delinquent mortgages decline

By on November 16, 2017
“Underwater” Home Decline

Delinquent mortgages throughout the United States dropped slightly in August, according to data released Tuesday.

Nationwide, 4.6 percent of all mortgages were in some state of delinquency – 30 days or more past due – during August, a decline of 0.6 percent year-over-year, Irvine-based CoreLogic reported.

Also in August, the nation’s foreclosure inventory rate was 0.6 percent, down from 0.9 percent in August 2016. That was the lowest inventory rate for August since 2006, when that number was 0.5 percent.

The foreclosure inventory rate measures the percentage of mortgages  in some state of foreclosure.

In the Inland Empire, 4.2 percent of all mortgages in August were late by at least 30 days,  including those being foreclosed on, compared with 4.7 percent one year earlier.

One point four percent of all mortgages in Riverside and San Bernardino counties were in serious delinquency – late by 90 days or more – compared with 1.7 percent in August 2016, CoreLogic reported.