Foreclosures Increased Final 7 Months of 2011

NationalMortgageNews says new data shows the number of loans in foreclosure plus loans delinquent 90 or more days increased June 2011 to Dec. 2011 from 9.2 percent to 9.7 percent, following six consecutive quarters of decline. Foreclosure-Response.org notes, for the 100 largest metropolitan areas, the foreclosure rate has risen to 5.9 percent, though still well below the 10.5 percent of Dec. 2009. In Florida, which MHProNews.com reported in an earlier story accounts for nearly one-third of all underwater mortgages nationwide, the foreclosure rate has grown at a faster clip. While the national foreclosure rate for the largest 100 markets grew 1.8 percent March 2009 to Dec. 2011, that rate in Orlando, Miami, and Jacksonville hit above five percent.

(Photo credit: Jillian Berman/GettyImages)

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