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Los Angeles area foreclosure rates decline in June

Foreclosure rates
Foreclosure rates in the Los Angeles area were down for the month of June when compared with their levels a year ago, a data firm said Thursday.

For outstanding mortgage loans in the Los Angeles area, about 2.64% were in foreclosure compared with 2.93% the year prior, according to Santa Ana-based research firm CoreLogic.

Nationally, the foreclosure rate for mortgage loans was 3.46% in June.

The percentage of loans going into delinquency -- meaning the number of people falling behind on their mortgages -- also fell in June from the year prior. According to CoreLogic, 8.13% of mortgage loans were 90 days or more delinquent compared with 10.62% in June 2010, representing a sizable drop of 2.49%.

Nationally, the delinquency rate was 7.22%.

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-- Alejandro Lazo

Twitter.com/AlejandroLazo

Graphic: A breakdown of foreclosure rates in the Los Angeles area by ZIP Code. Credit: CoreLogic

 
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