POSTED: Thursday, Dec. 10, 2009

Rising number of Whatcom County residents delinquent on mortgages

The rate at which Whatcom County residents are falling deeper into foreclosure trouble continues to increase, according to a new study.

First American CoreLogic released its study on local foreclosures, focusing on the rate for those more than 90 days delinquent. In October, 3.47 percent of Whatcom County residents were 90 days delinquent, up from 2.08 percent in January. It's been steadily climbing each month this year, according to the study.

The Washington rate in this category in October was 5.07 percent, while the U.S. rate for the same month was 7.7 percent.

Earlier this week RealtyTrac released its report about total foreclosure filings. In Whatcom County, the total number of filings, which includes the initial delinquency notices, had been down from earlier this year. Based on these two studies, it appears initial foreclosure filings have been slowing, but more residents are staying delinquent beyond 90 days.

First American CoreLogic also looked at the bank repossession rate of foreclosures. In October, that rate was 0.17 percent, which is consistent with much of the year. Throughout 2009, the monthly rate has ranged between 0.13 percent and 0.18 percent.