The Real Deal New York

New York-area foreclosure, delinquency rates rise

October 25, 2012 11:00AM

Foreclosure rates — the percentage of loans in some stage of foreclosure — increased in the New York metropolitan area year-over-year in August, according to a CoreLogic report issued today. The rate ticked in at 5.79 percent, a 0.52 percentage point increase from the same month last year, when the tally came in at 5.27 percent.

The New York-White Plains-Wayne region’s percentage ranks higher than the national foreclosure rate, which in August was 3.35 percent.

The area’s delinquency rate — defined as the percentage of loans that are over 90 days delinquent — also increased in August to 8.87 percent. In August 2011, the rate was recorded at 8.42 percent.

As The Real Deal previously reported, both New York and New Jersey ranked among the states with the highest foreclosure inventory in July. Nationwide, there were a total of 57,000 total foreclosures in August — the lowest numbers since 2010. — Zachary Kussin