Foreclosures drop again across Central Valley

July 28, 2016

•  Many are less than half the national average

•  But Sacramento is only Valley metro under state average

According to the financial information company CoreLogic (NYSE: CLGX) of Irvine, the home foreclosure rates continue to fall across the Central Valley, once the epicenter of the nation’s mortgage meltdown.

Here are CoreLogic’s market summaries for the Central Valley:

• Foreclosure Rates in Stockton-Lodi Decrease

The rate of Stockton-Lodi area foreclosures among outstanding mortgage loans was 0.44 percent for May, a decrease of 0.19 percentage points compared with May 2015 when the rate was 0.63 percent. Foreclosure activity in Stockton-Lodi was less than half the national foreclosure rate, which was 1.00 percent for May.

Also in Stockton-Lodi, the mortgage delinquency rate decreased. According to CoreLogic data for May, 1.75 percent of mortgage loans were 90 days or more delinquent compared with 2.26 percent for the same period last year, representing a decrease of 0.51 percentage points.

• Foreclosure Rates in Fresno Decrease

CoreLogic says the rate of Fresno area foreclosures among outstanding mortgage loans was 0.54 percent for May, a decrease of 0.13 percentage points compared with May 2015 when the rate was 0.67 percent. Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data for May, 2.00 percent of mortgage loans were 90 days or more delinquent compared with 2.38 percent for the same period last year, representing a decrease of 0.38 percentage points.

• Foreclosure Rates in Merced Decrease

The rate of Merced area foreclosures among outstanding mortgage loans was 0.46 percent for May, a decrease of 0.13 percentage points compared with May 2015 when the rate was 0.59 percent, CoreLogic says. Foreclosure activity in Merced was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Merced, the mortgage delinquency rate decreased. According to CoreLogic in May, 1.63 percent of mortgage loans were 90 days or more delinquent compared with 2.08 percent for the same period last year, representing a decrease of 0.45 percentage points.

• Foreclosure Rates in Madera Decrease

CoreLogic data reveals that the rate of Madera area foreclosures among outstanding mortgage loans was 0.60 percent for May, a decrease of 0.25 percentage points compared with May 2015 when the rate was 0.85 percent. Foreclosure activity in Madera was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Madera, the mortgage delinquency rate decreased. According to CoreLogic data for May, 2.32 percent of mortgage loans were 90 days or more delinquent compared with 2.92 percent for the same period last year, representing a decrease of 0.60 percentage points.

• Foreclosure Rates in Metropolitan Sacramento Decrease

The rate of metro Sacramento foreclosures among outstanding mortgage loans was 0.37 percent for May, a decrease of 0.14 percentage points compared with May 2015 when the rate was 0.51 percent. Foreclosure activity in metro Sacramento was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in metropolitan Sacramento, the mortgage delinquency rate decreased. According to CoreLogic, in May, 1.38 percent of mortgage loans were 90 days or more delinquent compared with 1.81 percent for the same period last year, representing a decrease of 0.43 percentage points.

• Foreclosure Rates in Modesto Decrease

CoreLogic says the rate of Modesto area foreclosures among outstanding mortgage loans was 0.45 percent for May, a decrease of 0.12 percentage points compared with May 2015 when the rate was 0.57 percent. Foreclosure activity in Modesto was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Modesto, the mortgage delinquency rate decreased. According to CoreLogic data for May, 1.81 percent of mortgage loans were 90 days or more delinquent compared with 2.21 percent for the same period last year, representing a decrease of 0.40 percentage points.

• Foreclosure Rates in Bakersfield Decrease

The rate of Bakersfield area foreclosures among outstanding mortgage loans was 0.62 percent for May, a decrease of 0.08 percentage points compared with May 2015 when the rate was 0.70 percent, according to CoreLogic. Foreclosure activity in Bakersfield was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Bakersfield, the mortgage delinquency rate decreased. CoreLogic says that in May, 2.29 percent of mortgage loans were 90 days or more delinquent compared with 2.48 percent for the same period last year, representing a decrease of 0.19 percentage points.

• Foreclosure Rates in Visalia-Porterville Decrease

The rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 0.58 percent for May, a decrease of 0.17 percentage points compared with May 2015 when the rate was 0.75 percent. Foreclosure activity in Visalia-Porterville was lower than the national foreclosure rate, which was 1.00 percent for May.

Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic data for May, 2.24 percent of mortgage loans were 90 days or more delinquent compared with 2.62 percent for the same period last year, representing a decrease of 0.38 percentage points.

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