Inland Empire foreclosure rates continue to climb

Foreclosure rates in the Inland Empire increased in June over the same period last year, according to recent data from First American CoreLogic.  According to the report, the rate of foreclosures among outstanding mortgage loans is 5.9 percent for the month of June, an increase of 2.1 percentage points compared with June 2008 when the rate was 3.8 percent.  The mortgage delinquency rate also increased. According to First American CoreLogic preview data for June, 16.3 percent of mortgage loans were 90 days or more delinquent compared with 10.8 percent for the same period last year, representing an increase of 5.5 percentage points.