Mortgage delinquency continues to rise in Whatcom County, according to a new national report.
Locally 4.16 percent of Whatcom County mortgage loans were more than 90 days delinquent, according to a report from CoreLogic, a provider of real estate and financial information. That’s up from 4.09 percent in November and is at its highest level during this current real estate bubble burst. In comparison, the 90-day delinquency rate in January 2009 was 2.1 percent.
While on the rise, Whatcom’s delinquency rate remains below the state (6 percent) and national (7.86 percent) rates.
The percentage of loans in some stage of the foreclosure process was 1.55 percent in December, up from 1.5 percent in November. In January 2009, the foreclosure rate was 0.68 percent. The state rate for December was 2.19 percent, while the U.S. rate was 3.58 percent.
The percentage of loans not sold at auction and returned to the lender locally in December was 0.25 percent, up from 0.24 percent in November. The state rate was 0.45 percent, while the U.S. rate was 0.67 percent.
Can’t sell your home?
Wait until it’s in distress.
The vultures and vermin will chase you down with their low-balls offers.
Wanna buy a home?
Good luck competing with the cash-hoarders that dominate the ‘market’
since there are no mortgage loans to be had without a King’s Ransom up front.
Unless or until some relief program is forced on Fannie and Freddie servicers,
housing will be an investor-only proposition.
No reason to be in a big hurry to buy a home around here. Fundamentals, Fundamentals, Fundamentals. No, this area isn’t ‘different’ or ‘special’.