Foreclosure and delinquency rate inches up in Erie

   February 26, 2013 9:07 am

 

Despite the improvement of some economic indicators, many Erie-area residents continue to struggle to make monthly mortage payments.

In fact, one in 20 Erie County homeowners who is paying on a mortgage is 90 days or more behind on those payments. Of those, two out of every five homeowners is somewhere in the foreclosure process.

Both the foreclosure rate and the delinquency rate increased in December, the most recent month for which statistics are available.

However, Erie County’s foreclosure statistics, released today by CoreLogic Real Estate News and Trends, remain better than both the state and national numbers.

Erie County’s foreclosure rate, at 2.01 percent, compares to 2.9 percent for Pennsylvania and 2.96 percent for the United States.

Erie’s 90-day foreclosure rate checked in at 5.39 percent, compared to 6.1 percent for Pennsylvania and 6.4 percent for the United States.

 

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