Biz Buzz
By Jim Martin, Doug Oathout Erie Times-News staff bloggers
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Posted: December 20th, 2012
Erie foreclosures on rise

While the U.S. foreclosure rates fell from October 2011 to October of this year, the rate of both foreclosures and delinquencies rose in Erie County.

Erie County’s foreclosure rate was 2.21 percent for the month, up from 1.98 for the previous October, according to CoreLogic, a provider of real estate analytics. Meanwhile, the share of mortgages that were 90 or more days delinquent rose from 5.06 percent to 5.36 percent.

Both of those numbers remain better than the national figures.

The 90-day delinquency rate is 5.97 percent for Pennsylvania and 6.53 percent for the United States.

Pennsylvania’s foreclosure rate was 3 percent in October. The U.S. rate was 3.06 percent.

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