Monday, January 29, 2007

Youngstown near top for at-risk mortgages

Youngstown currently ranks behind only Memphis and Detriot in the at-risk mortgage market according to the CoreLogic, a Sacramento, Calif.-based provider of residential mortgage risk management services. They examined 379 metropolitan statistical areas for its data on at-risk mortgage markets. Rounding out the top five highest risk markets are Warren, Michigan, and Indianapolis, Indiana.

"From low unemployment to high foreclosures, our data indicates that mortgage risk and fraud will continue to play an important role in the overall health of the housing market," said Mark Fleming, chief economist for CoreLogic, in a statement. "Fraud and collateral risk are still on the rise, as is foreclosure activity, but the silver lining is low unemployment and a small increase in house price appreciation."

No comments: