CoreLogic says that the number of homes going into foreclosure in Louisville has dropped in their most recent report. CoreLogic is a company that tracks and publishes a myriad of reports, many centered around real estate, finances and consumer goods.
The CoreLogic data reveals that the rate of Louisville-Jefferson County area foreclosures among outstanding mortgage loans was 2.71 percent for the month of July 2012, a decrease of 0.21 percentage points compared to July of 2011 when the rate was 2.92 percent. Foreclosure activity in Louisville-Jefferson County was lower than the national foreclosure rate which was 3.25 percent for July 2012.
The peak for foreclosures in Louisville was 3.05% in January of this year and have declined since. Louisville generally follows the national trend with a time delay of about 9-15 months.
What is also noteworthy, is that delinquency rates are also dropping. Just 5.80% percent of mortgage loans were 90 days or more delinquent in July, compared to 5.87% one year earlier. Small improvement but needed greatly.