Foreclosure rates in Cape Coral-Fort Myers increase
Foreclosure rates in Cape Coral-Fort Myers have increased for the month of February over the same period last year, according to First American CoreLogic.
According to newly released data from First American CoreLogic on foreclosures for the Cape Coral-Fort Myers area, the rate of foreclosures among outstanding mortgage loans is 13.47 percent for the month of February, an increase of 0.99 percentage points compared to February of 2009 when the rate was 12.48 percent. Foreclosure activity in Cape Coral-Fort Myers is higher than the national foreclosure rate which was 3.17 percent for February 2010, representing a 10.30 percentage point difference.
Also in Cape Coral-Fort Myers, the mortgage delinquency rate has increased. According to First American CoreLogic data for February 2010, 22.93 percent of mortgage loans were 90 days or more delinquent compared to 20.05 percent for the same period last year, representing an increase of 2.88 percentage points.