Foreclosure rate ebbs in Atlanta, below U.S. rate

 

The slow healing of the housing market continues: metro Atlanta foreclosures have dipped during the past year and are now running at lower pace than the national average.

Among mortgage loans in the region, 0.65 percent were in foreclosure in November, according to a report issued today by CoreLogic.

That is a decline from a year earlier, when the rate was 0.80 percent.

Burning house Graffiti-Solea-burning-houseThe metro rate has also slipped below the national foreclosure rate of 1.17 percent, according to CoreLogic.

Delinquencies – a way-station for many homeowners on the road to foreclosure – were also down.

In metro Atlanta, 3.19 percent of mortgage loans were 90 days or more delinquent. The delinquency rate a year earlier was 3.98 percent.

The foreclosure rate for the state of Georgia was the same as metro Atlanta: 0.65 percent. The delinquency rate for the state was slightly higher than that of Atlanta: 3.29 percent.

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