Rise in Springfield Foreclosed Houses for Sale - Real Estate - Foreclosures

The pace of foreclosed houses for sale in Springfield, Missouri increased in June as the pace of home loan delinquencies and foreclosure filings increased, based on foreclosure data gathered from city records.In June, the percentage of foreclosures in Springfield, including foreclosed houses for sale, was 1.1 percent of all mortgage loans, a rise of 0.6 percentage points from the 0.5 percent share in June 2008.The pace of foreclosures in Springfield was slower compared to the nationwide average pace. In June, the nationwide foreclosure rate was 2.6 percent of all mortgage loans, marking a 1.5 percentage point gap compared to Springfield's foreclosure rate.Meanwhile, home loan delinquencies in Springfield also increased in June, with 3.8 percent of all mortgage loans in default by at least 90 days. In June last year, 2.1 percent of all home loans were delinquent by at least 90 days.During the one-year period from July last year to June this year, 3,404 foreclosure cases wer e filed in Springfield, which can be calculated as approximately 9.33 filings per day.During the one-year period from July 2007 through June last year, 2,064 foreclosure cases were filed, calculated as 5.65 filings per day.In a nationwide survey of foreclosures in June, Missouri ranked 27th based on state foreclosure rates, with one household out of every 851 housing units across the state getting a default or foreclosure notice. More than 3,000 housing units went into the foreclosure process in June, with more than 1,500 units already counted as real-estate-owned foreclosed houses for sale.In the first 6 months of the year, Missouri ranked 28th among states based on rates of foreclosure, with one household out of every 191 housing units getting a default or foreclosure notice. Nearly 14,000 housing units were hit with a default or foreclosure notice in the first 6 months, with many of them already counted as real-estate-owned foreclosed houses for sale.In a recent ranking o f the top 203 U.S. metro areas based on foreclosure rates in the first 6 months of 2009, Springfield was ranked 113th, with one household out of every 163 housing units getting a default or foreclosure notice. This rate marked an increase of 52.16 from the rate in the first 6 months of 2008 and pushed filings to reach 1,129 units.With nearly 4 percent of all mortgage loans already in default by at least 90 days in June, more foreclosed houses for sale are expected in Springfield.

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