Approximately 12.3% of Sacramento mortgages in January were more than 90 days late, in foreclosure or tied to a bank-owned property, according to a report out this week from mortgage industry tracking firm First American CoreLogic.

The January number is up slightly (.3%) from December 2009, but up significantly from a year ago, where troubled loans stood at 7.6% of all Sacramento mortgages.

The Home Front blog on the Sacramento Bee website noted that:

Sacramento’s 12.29 percent troubled-loan portfolio compares with 11.64 percent statewide and 8.66 percent nationally.

It’s still hard to tell what this terrible troubled loan percentage means exactly. MDA DataQuick staffers tell Home Front they still aren’t seeing a major jump in Notices of Default that would indicate a new wave of foreclosures coming. It appears that people are being allowed to stay in their homes much much longer — even while in trouble — as banks try to sort out solutions.

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