Foreclosure rate up in Lee

Foreclosure rates in Lee County increased for the month of January over the same period last year, according to a report by First American CoreLogic. A leading source of U.S. real estate and mortgage data.

According to newly released report on foreclosures for the Cape Coral-Fort Myers area, the rate of foreclosures among outstanding mortgage loans is 13.62 percent for the month of January, an increase of 1.36 percentage points compared to January 2009 when the rate was 12.26 percent.

Foreclosure activity in Cape Coral- Fort Myers is 10.43 percentage points higher than the national foreclosure rate, which was 3.19 percent for January.

Also in Cape Coral-Fort Myers, the mortgage delinquency rate has increased. According to First American CoreLogic data for January, 23.13 percent of mortgage loans were 90 days or more delinquent compared to 19.64 percent for the same period last year, representing an increase of 3.49 percentage points. 