Fayette County Foreclosures Up
From Business Lexington:
Foreclosure rates in Lexington-Fayette increase
Foreclosure rates in Lexington-Fayette increased in November over the same period last year, according to First American CoreLogic.
The latest information from the real estate data and analytics organization shows the rate of foreclosures among outstanding mortgage loans in the Lexington-Fayette County area at 1.67 percent for the month of November, an increase of 0.80 percentage points compared to November of 2008.
Foreclosure activity in Lexington-Fayette is lower than the national foreclosure rate, which was 3.09 percent for November 2009, representing a 1.35 percentage point difference.
The area’s mortgage delinquency rate also has increased. First American CoreLogic data for November 2009 shows 4.17 percent of mortgage loans were 90 days or more delinquent compared to 2.59 percent for the same period last year, an increase of 1.58 percent.
Leading the nation in foreclosure rates in 2009 were Nevada, Arizona and Florida, according to RealtyTrac. Kentucky was 40th. With unemployment and wage cuts overcoming programs to remedy failing home loans, RealtyTrac is forecasting another record-breaking year for foreclosures across the nation in 2010.
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