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Foreclosure rates in Wilmington increase


WILINGTON, NC (NEWS RELEASE) -- A new housing report out indicates foreclosure rates in the Wilmington area are on the rise.

These figures, coming from CoreLogic, show foreclosure rates up in June 2011 - over two and a half percent.

While that's up almost a full percent from this same time last year, the Wilmington rate is actually lower than the national foreclosure rate.

That rate still sits at almost three and a half percent.

The report also says homeowners are having trouble keeping up with their house payments.

The local mortgage delinquency rate is over five and a half percent, more than it was at this time last year.

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How is it all these big-wig companies know exactly what our foreclosure rates are, yet the county does not publich those, and they are not available or reliable in anyone's data due to the fact you still have to go down to the courthouse once a week to get that information? As an agent, I have been doing it and complaining for years.. Maybe Core logic opened up an office in WIlmington since the economy is so great.. More big companies making more big money off of our local dollars while we as agents make zip.. Obamanomics at its best.

It's real simple


They go to the Courthouse. They check special proceeding files.

The county's not concerned with this; why should they be?

Maybe if agents thought outisde the box, their income would rise and they'd have less time to make themselves look foolish with mindless posts.

I am lost as to how big companies are making money while local agents do not?

There are several local real estate firms which have divisions focused on foreclosure properties.

Any real estate investor knows them; and knows how to negotiate outside the box.

Guess you may not be thinking.