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Long Island foreclosure rates up
Long Island foreclosure and mortgage delinquency rates ticked up slightly in February, according to a new report by a national data provider.
In Nassau and Suffolk counties, 6.4 percent of homes with outstanding mortgage loans were in foreclosure, an increase of 0.7 percentage points from the previous February, according to a report released by CoreLogic. The local foreclosure rate is nearly double the national rate of 3.4 percent.
In yet another sign that local homeowners are struggling to make their home loan payments, the Island’s 90-day mortgage delinquency rate increased from 10.2 percent to 10.4 percent from February 2011 to the same month this year, CoreLogic reported.
February is the most recent month for which CoreLogic data are available.
In the fourth quarter of 2011, 5.3 percent of Long Island homes with mortgages were underwater, unchanged from the third quarter.