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.