The real estate meltdown has affected different parts of the country in very different ways.
In over-built areas like Phoenix or Miami, the drop in values, and the high rate of foreclosure, remains acute. Yet there are other regions of the U.S. where prices and home ownership have remained more stable.
Even in more stable regions, however, bankruptcy filings to prevent foreclosure are a common occurrence.
What about San Antonio and other parts of Texas, including Austin, Killeen and the Rio Grande Valley?
Statistics released late last month from CoreLogic and RealtyTrac show that foreclosure rates in San Antonio and New Braunfels declined in February of this year compared to February of last year.
The decline was slight, though, from a rate of 1.34 percent of mortgage loans in February 2011 to 1.3 in February 2012.
The rate of mortgage loans in delinquency was up. In the San Antonio area, the percentage of such loans that were 90 days or more delinquent was 4.71. This was up from 4.62 in February of last year.
In Texas as a whole, the delinquency rate was 4.78 in February of this year. This was down from a statewide figure of 4.93 in the same month last year.
The national average is substantially higher than this. The U.S. delinquency rate was 7.24 in February 2012. This was, however, down from a figure of 7.76 a year before.
Federal programs to assist homeowners in staying in their homes have been quite limited in their scope so far. And the economy has still not gained enough traction to move the foreclosure and delinquency numbers substantially.
Source: “What’s happening with SA foreclosures?” Jennifer Hiller, San Antonio Express, 4-26-12