Foreclosure forecast glum - East Valley Tribune: Business

Foreclosure forecast glum

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Posted: Friday, August 29, 2008 5:53 pm | Updated: 9:30 pm, Fri Oct 7, 2011.

Home foreclosure activity in the Valley isn't expected to slow anytime soon, according to First American CoreLogic, a collector of national, state and local data on home prices, foreclosure and delinquency activity.

As foreclosures have risen, the mortgage delinquency rate also has increased. In June, 5.8 percent of mortgage loans were 90 days or more delinquent compared to 1.5 percent for the same period last year, representing an increase of 4.3 percentage points.

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