Springfield foreclosures decline in December

The Springfield foreclosure rate among outstanding mortgage loans decreased to 0.86 percent in December, down from 1.25 percent in the same month of 2011.

Springfield fared better than the nation as a whole, which had a foreclosure rate of 2.96 percent in December, according to the latest data from Santa Ana, Calif.-based real estate data tracking firm CoreLogic (NYSE: CLGX). The foreclosure rate measures the percentage of loans that are in some stage of the foreclosure process.

The Missouri foreclosure rate dropped to 1.04 percent in December from 1.47 percent a year before.

According to CoreLogic, the Springfield mortgage delinquency rate - a precursor of foreclosures - showed that 3.08 percent of mortgage loans in December were 90 or more days delinquent, compared to 3.77 percent in the same month of 2011.