More Whatcom County residents are late on home payments

Written by Dave Gallagher | The Bellingham Herald | January 25, 2011

A new national report shows more Whatcom County residents are significantly late on their home loan payments.

According to CoreLogic, 4.09 of all Whatcom County mortgage loans were 90 days or more delinquent in November, up from a revised October rate of 3.97 percent. The delinquency has risen steadily since January 2009, when the rate was 2.1 percent. Whatcom’s November delinquency rate remains below the state (5.96 percent in November) and national (7.88 percent).

The percentage of home loans in some stage of foreclosure stood at 1.5 percent in November, up from 1.34 percent in October. It’s also been steadily rising since January 2009, when the rate was 0.68 percent. The state foreclosure rate in November was 2.14 percent, while the national rate was 3.48.

The number of loans returned to the lender in November was 0.24 percent, down from 0.26 percent in October. The state REO rate was 0.44 in November, while the national rate was 0.67 percent.