According to a press release issued this week by CoreLogic—a provider of consumer, financial, and property information—the county’s rate of foreclosures was 2.37 percent for December 2010, an increase of 0.19 points from December 2009. The national foreclosure rate was 3.58 percent in December 2010. Santa Barbara County’s mortgage delinquency rate has decreased, CoreLogic’s statement reads, as 7.27 percent of loans were 90 days or more late in December 2010 compared to 7.61 percent for the same period last year. As of December 2010, 0.69 percent of homes with a mortgage were in REO (real estate owned) status. This was an increase over one year prior when 0.52 percent of homes were in REO status.
