Foreclosure Rates in Salem Increase

Foreclosure data for First American CoreLogic is reported based on the actual number of active mortgage loans rather than the total number of households in a given area

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(SALEM, Ore.) - Foreclosure rates in Salem have increased for the month of July over the same period last year, according to First American CoreLogic, the leading collector of national, state and local data on home prices, foreclosure and delinquency activity, real estate sales volume and mortgage loan activity.

According to recent data from First American CoreLogic on foreclosures for the Salem area, the rate of foreclosures among outstanding mortgage loans is 1.70 percent for the month of July, an increase of 1.00 percentage points compared to July of 2008 when the rate was 0.70 percent.*

Foreclosure activity in Salem is lower than the national foreclosure rate which was 2.80 for July 2009, representing a 1.10 percentage point difference.

Also in Salem, the mortgage delinquency rate has increased. According to First American CoreLogic preview data for July 2009, 4.60 percent of mortgage loans were 90 days or more delinquent compared to 1.70 percent for the same period last year, representing an increase of 2.90 percentage points.*

Foreclosure Filings

Foreclosure data for First American CoreLogic is reported based on the actual number of active mortgage loans rather than the total number of households in a given area, which provides more accurate results by removing paid-in-full mortgages from the equation.

For detailed information on foreclosures by zip code and property, visit realquestinvestor.com.