In the New York-White Plains-Wayne area, 10.5 percent, or 119,196, of all residential properties with a mortgage were in negative equity for first quarter 2011, according to new negative equity data released by CoreLogic for the quarter. Nationally, 27 percent, or 10.9 million, of all residential properties with a mortgage were in negative equity at the end of the first quarter of 2011, down slightly from 11.1 million, or 23.1 percent, in the fourth quarter. An additional 2.4 million borrowers had less than five percent equity in the first quarter. Together, negative equity and near-negative equity mortgages accounted for 27.7 percent of all U.S. residential properties with a mortgage. In the previous quarter, these two categories stood at 27.9 percent. TRD… [more]

Foreclosure rates in New York-White Plains-Wayne jumped to 5.08 percent in March, according to a report by CoreLogic, up 1.47 percent from March 2010 when the rate was 3.61 percent. Foreclosure activity in the area remains higher than the national average which was 3.57 percent in March this year.

The mortgage delinquency rate in New York-White Plains-Wayne has also increased. According to CoreLogic data, 8.48 percent of mortgage loans were 90 days or more delinquent compared to 8.25 percent for the same period last year. TRD… [more]