The Real Deal Miami

Foreclosure rates fall in Miami metro area

October 26, 2012 03:45PM

The rate of foreclosures among outstanding mortgage loans in the Miami-Miami Beach-Kendall metropolitan area fell 1.72 percentage points in August to 16.42 percent, according to data from CoreLogic. That was still significantly higher than the national rate of 3.35 percent, according to the report. The rate of mortgage delinquency in the area also fell in the same time period, with 22.89 percent of mortgage loans being 90 days or more delinquent, compared to 25.45 percent in August 2011. — Alexander Britell