Source: Foreclosure Response.org
What: Foreclosure-Response.org’s newest serious delinquency data and analysis from March 2011
When: Released today Tuesday, August 16, 2011
Where: Foreclosure-Response.org
The three co-creators of Foreclosure-Response.org — Local Initiatives Support Corporation, Urban Institute and the Center for Housing Policy — have compiled the newest data from March 2011 on seriously delinquent mortgages for all 366 U.S. metro areas. The data and accompanying analyses are released today, August 16, 2011 and are available at Foreclosure-Response.org.
The new data are the latest in a series of quarterly data, released by the Foreclosure-Response.org team first in late 2010, that provided the first-ever data on serious delinquency rates for all 366 U.S. metros.
Key findings from the March data:
Although the rate of serious mortgage delinquencies has been stabilizing in the vast majority of metropolitan areas, the foreclosure rate continues to rise. On average, the serious delinquency rate (which consists of loans that are 90+ days delinquent and/or in foreclosure) is historically high but no longer rising. The continued rise in the foreclosure rate, however, indicates that properties may be lingering in foreclosure for an extended period of time and delaying recovery for both households and communities.
Since the national peak in December 2