CoreLogic, a company that aggregates real estate data, said Spokane County's foreclosure rate inched up in June compared with 12 months ago.
Here are the general data, which are not pleasant. They show a clear steady increase in delinquencies. Though the increase is minimal month by month, the trend is disturbingly upward. (Click the map of Spokane County for a larger format version.)
The trend line for 90-day delinquencies and foreclosures in Spokane.
|Spokane||90+ Day Delinquency Rate||Foreclosure Rate|
Source: CoreLogic: www.corelogic.com
READ below the jump for a key explanation of what CoreLogic is tracking in these data.
Foreclosure Rate: This measures the percentage of loans in some stage of the foreclosure process. A foreclosure is defined by the legal process by which an owner's right to a property is terminated, usually due to default. This does not represent the number of new foreclosure filings as provided by other data companies, but rather the current stock, or inventory, of loans in the foreclosure process which offers a comprehensive view of foreclosure trends. CoreLogic has approximately 85 percent coverage of foreclosure data.
90+ Day Delinquency Rate: This measures the percentage of loans that are more than 90 days delinquent, including those in foreclosure and REO (real estate owned).