Last Thursday, Corelogic released its January 2012 report on delinquencies and foreclosures. According to the report, the number of homes with mortgages that were more than 90 days delinquent in the US were down 0.6 percent during January when compared to January 2011. The foreclosure inventory was down 0.3 percent over the same period. Nationally, 3.3 percent of all homes with mortgages were in the foreclosure inventory, and 7.2 percent of loans were 90+ days delinquent.
In Colorado, the number of homes with mortgages that were more than 90 days delinquent fell by 0.6 percent from Janaury 2011 to January 2012. Over the same period, the percentage of homes with mortgages that were in the foreclosure inventory fell by 0.5 percent.
4.1 percent of homes with mortgages were more than 90-days delinquent while 1.4 percent of all homes with mortgages were in foreclosure.
Overall, the proportion of homes affected in Colorado was substantially smaller in Colorado than in the nation as a whole.
41 states reported higher rates of 90-day delinquency than Colorado. Only 8 states reported lower rates: Virginia, West Virginia, Montana, Alaska, Wyoming, Nebraska and The Dakotas.
States with significantly higher rates of delinquency and foreclosure were Nevada, Florida and New Jersey where the percentage of homes with mortgages that were at least 90-days delinquent were 13.3 percent, 17.4 percent, and 10.7 percent, respectively.
39 states reported foreclosure inventory rates that were higher than Colorado's rate of 1.4 percent. Only 10 states reported lower foreclosure inventory rates: The Dakotas, Nebraska, West Virginia, Missouri, Washington, Montana, Alabama, Texas, Alaska and Wyoming.
The states with the highest foreclosure inventory rates were Nevada, Florida, New Jersey and Illinois with rates of 5 percent, 11.8 percent, 6.4 percent and 5.3 percent, respectively.