The Real Deal Miami

Foreclosures in Miami-Miami Beach-Kendall surpass national average by 16 percent

June 28, 2011 01:39PM

Foreclosure rates in Miami-Miami Beach-Kendall have surpassed the national average by almost 16 percent, according to recent data by CoreLogic. The rate of foreclosures among outstanding mortgage loans is 19.01 percent for April 2011, a year-over year increase of 1.51 percent. The national average was 3.47 percent for April, representing a 15.4 percent difference.

On a brighter note, the mortgage delinquency rate for Miami- Miami Beach- Kendall has decreased. According to CoreLogic data for April, 26.4 percent of mortgage loans were at least 90 days delinquent, compared to 27.57 percent in the same period last year, a decrease of 1.17 percent from April 2010. — Katherine Clarke