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Report: Jacksonville foreclosure rate decreased


JACKSONVILLE, Onslow County –

A report released by an organization called Corelogic states Jacksonville’s foreclosure rate decreased in 2016. Foreclosure is when a person stops making payments on their mortgage and their house is taken from them.

According to numbers from a recent Corelogic National Foreclosure Report, Jacksonville’s foreclosure rate was 1.71 percent in January 2015. As of January 2016, the rate is down to 1.65 percent.

The report also said the city’s foreclosure rate remains higher than the national average, which sits at 1.15 percent. The president of the Jacksonville Board of Realtors, Alexis Pierson, said there are many reasons for these numbers.

“There’s so many different factors that come into play,” Pierson said. “Anything ranging from the local economy to the national economy and to a certain extent, the global economy. So, I wouldn’t say there is any one particular factor that is played into it, but a lot of things.”

To get a copy of the report, click here. To learn more about how to prevent foreclosure, visit the North Carolina Foreclosure Prevention Fund website.

Article source: http://www.wcti12.com/news/Report-Jacksonville-foreclosure-rate-decreased/38769620

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