The Real Deal Miami

Foreclosure rate falls in Miami metro area

November 20, 2012 09:00AM

The rate of foreclosures among outstanding mortgage loans in the Miami-Miami Beach-Kendall metro area fell by 2.42 percentage points to 15.86 percent in September compared to the same month in 2011, according to data from CoreLogic. Foreclosure activity in the area is significantly higher than the national rate of 3.25 percent. Mortgage delinquency decreased as well, with 22.44 percent of mortgage loans in the area 90 days or more delinquent, compared to 25.31 percent for the same period last year, a 2.87-percentage-point reduction. — Alexander Britell