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Foreclosure rate falls in Miami-Dade

July 25, 2012 10:30AM

The rate of foreclosures in the Miami-Miami Beach-Kendall area fell 1.76 percentage points in May compared to the same period in 2011, according to new data from CoreLogic. The rate of foreclosures among outstanding mortgage loans in the area stood at 17.29 percent, down from 19.05 percent in May 2011. The national foreclosure rate was 3.41 percent in the same period. Mortgage delinquencies also decreased, with a 2.22-percentage-point drop in the number of mortgage loans that were 90 days or more delinquent. — Alexander Britell