Miami area foreclosure rate fell again in December

The foreclosure rate in greater Miami keeps heading in the right direction, but it still has a long way to go.

In December 2013, 8.72 percent of the mortgages in the Miami-Miami Beach-Kendall area were in some stage of foreclosure, according to CoreLogic, an Irvine, Calif.-based data firm.

That rate was down from 14.38 percent a year earlier. Still, it was four times the national foreclosure rate, which dropped to 2.09 percent in December 2013 from 2.95 percent a year earlier.

Greater Miami’s mortgage delinquency rate, or percentage of loans more than 90 days late, declined in December to 14.99 percent from 20.79 percent a year earlier. That, too, was far above the national average of 5.03 percent, which marked an improvement from 6.4 percent a year earlier.

Florida’s foreclosure rate fell to 6.67 percent from 10.27 percent in December 2012, and its delinquency rate dropped to 11.18 percent from 15.16 percent, CoreLogic said.

Read more Business stories from the Miami Herald

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