Gainesville foreclosure rate inches higher

Published: Friday, January 14, 2011 at 10:11 a.m.
Last Modified: Friday, January 14, 2011 at 10:11 a.m.

The rate of foreclosures and mortgage delinquencies in Gainesville rose in October, according to data-tracking firm CoreLogic.

The rate of outstanding mortgages in foreclosure was 4.44 percent, up from 3.17 percent a year prior, according to numbers released Thursday. The October foreclosure rate was lower than the 11.37 percent in Florida and higher than the 3.33 percent national rate.

Mortgages delinquent by 90 days or more were 7.67 percent in Gainesville, up from 6.35 percent in October 2009. The Florida rate in October was 18.10 percent and the U.S. rate 7.9 percent.

The rate of homes in real estate-owned status -- returned to the lender after foreclosure auction -- was 0.58 percent in Gainesville, up from 0.27 percent. The rate in Florida was 1.39 percent and nationwide was 0.69 percent.

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