Rate of foreclosures falls in greater Miami area: CoreLogic report

The rate of foreclosures among outstanding mortgage loans in the Miami-Miami-Beach metropolitan area was 17.57 percent in February, a drop of 1.56 percentage points compared to the same period in 2011, according to data from CoreLogic. The rate remains significantly higher than the national foreclosure rate of 3.41 percent. The mortgage delinquency rate also decreased in the Miami metro area, with 24.92 percent of mortgage loans being 90 days or more delinquent, compared to 27.07 percent for the same period last year. — Alexander Britell