March 7, 2008
Maine foreclosures up
The number of Maine homes in foreclosure reached 2.36% during the last three months of 2007, the 8th highest foreclosure inventory in the country, according to a new study from the Mortgage Bankers Association.
In New England, only Rhode Island, with a foreclosure rate of 2.41%, had a higher percentage of homes in foreclosure.
The percentage of subprime loans in foreclosure in Maine reached 11.26% during the fourth quarter of 2007, while the percentage of prime loans in foreclosure reached 0.95%, according to the study.
The number of mortgage delinquencies in the state was 5.88%, compared to a national delinquency rate of 5.82%, during the fourth quarter of 2007, the study says.
In New England, only Rhode Island, with a foreclosure rate of 2.41%, had a higher percentage of homes in foreclosure.
The percentage of subprime loans in foreclosure in Maine reached 11.26% during the fourth quarter of 2007, while the percentage of prime loans in foreclosure reached 0.95%, according to the study.
The number of mortgage delinquencies in the state was 5.88%, compared to a national delinquency rate of 5.82%, during the fourth quarter of 2007, the study says.
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