Foreclosure activity in Merced at lower rate in April

Foreclosure rates in Merced have decreased for the month of April over the same period last year, according to CoreLogic.

Newly released data from CoreLogic for the Merced area show the rate of foreclosures among outstanding mortgage loans is 4.28 percent for the month of April, a decrease of 0.97 percentage points compared to April of 2010 when the rate was 5.25 percent. Foreclosure activity in Merced is higher than the national foreclosure rate which was 3.47 percent for April 2011, representing a 0.81 percentage point difference.

Also in Merced, the mortgage delinquency rate has decreased. According to CoreLogic data for April, 12.15 percent of mortgage loans were 90 days delinquent or more compared to 18.08 percent for the same period last year, representing a decrease of 5.93 percentage points.

Headquartered in Santa Ana, CoreLogic provides consumer, financial and property information.

-- Sun-Star staff