{"id":334558,"date":"2010-02-18T08:11:53","date_gmt":"2010-02-18T13:11:53","guid":{"rendered":"http:\/\/www.foreclosuredeals.com\/wp\/?p=4989"},"modified":"2010-02-18T08:11:53","modified_gmt":"2010-02-18T13:11:53","slug":"charlotte-home-foreclosures-driven-by-12-unemployment-rate","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/334558","title":{"rendered":"Charlotte Home Foreclosures Driven by 12% Unemployment Rate"},"content":{"rendered":"

The continued rise in Charlotte home foreclosures<\/a> in 2009 was largely driven by record unemployment rates in the metro area during the year.<\/p>\n

\"Charlotte<\/div>\n

The Charlotte metro area hit the record 12-percent jobless rate in December, which was above the average statewide rate of 10.9 percent and the nationwide rate of 10 percent. It was also higher than the 11.2-percent jobless rate of Mecklenburg County<\/a>, where Charlotte is located.<\/p>\n

According to analysts, many banking employees lost their jobs when a record number of banks operating in the area collapsed in 2009. The Charlotte area lost a total of 2,800 jobs in December, the biggest loss among all metro areas in North Carolina. Charlotte also posted the biggest number of jobs lost in 2009, which totaled 35,900 jobs.<\/p>\n

In 2009, foreclosure postings in the Charlotte area climbed up by 9.5 percent compared to 2008 and by 13.4 percent compared to 2007. A total of 10,732 households were hit with delinquency or foreclosure notices, representing 1.5 percent of all households in the metro area.<\/p>\n

Largely driven by the surge in Charlotte home foreclosures, the number of foreclosure postings statewide more than doubled last year compared to the previous year, based on data from the state Administrative Office of the Courts. The pace of home foreclosures in North Carolina<\/a> stepped up by 17.4 percent to 63,341 filings, compared to 53,960 filings in 2008. While the rate of increase from 2008 to 2009 was 17.4 percent, the increase rate from 2007 to 2008 was only 8.6 percent.<\/p>\n

About 67 percent of North Carolina counties posted increases in foreclosure filings in 2009, with Brunswick County posting an increase of 82 percent and Mecklenburg County posting a jump of 54 percent.<\/p>\n

According to Mark Pearce, deputy banking commissioner of North Carolina, unemployment and negative home equity continued to drive the rise in foreclosures homes for sale<\/a> and these same factors will drive further defaults and foreclosures this year.<\/p>\n

Pearce also said that the state banking commission is crafting rules to cut down foreclosures, including a regulation that requires lenders to suspend their foreclosure action for homeowners who are pursuing loan modifications.<\/p>\n

Last year, a commission tasked by the state legislature to prevent foreclosure has helped over 2,500 distressed homeowners to save their homes.<\/p>\n

According to lawyer Al Ripley, who works with the North Carolina Justice Center, the state should continue supplementing the federal loan modification program to cut down the number of Charlotte home foreclosures.<\/p>\n","protected":false},"excerpt":{"rendered":"

The continued rise in Charlotte home foreclosures in 2009 was largely driven by record unemployment rates in the metro area during the year. The Charlotte metro area hit the record 12-percent jobless rate in December, which was above the average statewide rate of 10.9 percent and the nationwide rate of 10 percent. It was also […]<\/p>\n","protected":false},"author":4094,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-334558","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/334558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4094"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=334558"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/334558\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=334558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=334558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=334558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}