The Real Deal Miami

Foreclosure rates down in Miami

January 31, 2012 11:15AM

The rate of foreclosures among outstanding mortgage loans in the Miami metropolitan area fell to 17.62 percent in November, according to data from CoreLogic released yesterday. On a year-over-year basis, that represented a 9.99 percent drop. The rate of mortgage delinquency rate also fell in November, with 25 percent of mortgage loans being 90 or more days delinquent, compared to 27.13 percent in the same period in 2010. Nationwide, 7.23 percent of outstanding mortgage loans are more than 90 days delinquent. CoreLogic’s data covers the Miami-Miami Beach-Kendall area. — Alexander Britell