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Charlotte foreclosure rate drops in March

By Deon Roberts

deroberts@charlotteobserver.com

The foreclosure rate in the Charlotte area fell in March from the same month last year and was below the national rate, according to a report released Thursday by CoreLogic. But the Charlotte rate was higher than North Carolina’s for the month.

The Irvine, Calif.-based company said the rate of foreclosures among outstanding mortgage loans in the Charlotte region was 2.64 percent this past March, down from 3.44 percent in March 2012.

Nationwide, the foreclosure rate this past March was 2.84 percent compared with 3.49 percent a year ago. For North Carolina, it was 1.95 percent this past March, down from 2.52 percent in March 2012.

The mortgage delinquency rate also decreased in the Charlotte region. In March, 5.86 percent of loans were 90 days or more delinquent, down from 6.91 percent in March 2012.

Since the start of the year, the foreclosure rate in the Charlotte area has been falling every month, according to CoreLogic data.

CoreLogic considers the Charlotte area as including Gastonia and Rock Hill.

Roberts: 704-358-5248; Twitter: @DeonERoberts
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