Long Island foreclosure rates rise
House keys and foreclosure notice. Credit: iStock
Long Island’s foreclosure and mortgage delinquency rates climbed in July compared to a year ago, reported mortgage tracker CoreLogic.
The foreclosure rate, which counts borrowers in the judicial foreclosure process, was 5.97 percent in July, up from 4.53 a year earlier, CoreLogic said. In contrast, New York State’s foreclosure rate was 4.3 percent, up 3.28 from a year earlier, the report said.
Long Island’s delinquency rate, which counts people who are at least 90 days behind in payments, was 10.01 percent in July, up from 9.76 percent a year earlier, CoreLogic said.
The state’s delinquency rate was 7.49 percent, up from 7.27 percent in July 2010, data show.
The report shows both rates have increased on Long Island since CoreLogic began tracking the mortgages in 2009. In January of that year, the foreclosure rate here was 2.47 percent and the delinquency rate stood at 5.53 percent, CoreLogic said.
