The troubled piece of the home ownership puzzle has been shrinking, according to newly-released data from a national firm.
Metro Atlanta’s foreclosure rate was below the national average for September – although the national average improved more during the month, according to the report from CoreLogic.
The report signals another step in the real estate market’s long, painful slog back toward health.
There had been a vicious cycle of job cuts, rising consumer debts, falling home values, bank woes, home loss, economic distress and more job cuts. That cycle has been unwinding – slowly and unevenly – since the job and real estate markets hit bottom.
CoreLogic said that foreclosures accounted for 0.68 percent of outstanding mortgage loans in metro Atlanta during August, a decrease of 0.24 percentage points compared with August 2014.
Nationally, the rate in August was 1.25 percent, although that rate fell more during the year, slipping 0.37 percentage points.
According to CoreLogic, 3.33 percent of metro Atlanta mortgage loans were 90 days or more delinquent, down from 4.15 percent a year earlier.
Nationally, 3.44 percent of mortgages were 90 days delinquent.