New data shows decrease in foreclosures - WNEM TV 5

New data shows decrease in foreclosures

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(Source: Wikimedia Commons) (Source: Wikimedia Commons)

Foreclosures and local delinquencies are on the decline, according to new data.

While the state of Michigan’s foreclosure rate has dropped from 0.61 percent to 0.42 percent from January 2015 to January 2016, the city of Flint has also seen a decrease in its foreclosure rate.

Flint’s January 2015 foreclosure rate was 0.93 percent and dropped to 0.71 percent in January 2016.

The decrease is part of a consistent trend in the city. Even delinquencies in mortgage payments has seen a decrease. In January 2015, mortgage delinquencies of more than 90 days was at 5.27 percent. In January 2016, that had dropped to 3.87 percent.

Flint’s foreclosure is below the national average of 1.15 percent.

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