Santa Fe foreclosure rates up in January

Foreclosure rates in Santa Fe increased for the month of January over the same period last year, according to First American Core Logic, a real-estate data and analytics firm.

The rate of foreclosures among outstanding mortgage loans in Santa Fe was 1.64 percent in January 2010, compared with January 2009, when the rate was 0.84 percent.

But Santa Fe’s foreclosure rate was well below the national rate, which was 3.19 percent for January 2010, according to a First American report.

In addition, the mortgage delinquency rate in Santa Fe in January increased, as 4.25 percent of mortgage loans were 90 days or more delinquent. That compares to 2.11 percent for the same month a year ago.

Foreclosure data for First American CoreLogic is based on the number of active mortgages rather than the number of households in a given area, the company said in a statement.

Source: The New Mexican

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