The foreclosure rate – the percentage of mortgages in some stage of foreclosure – fell to 14.59 percent in Greater Miami in November 2012, down 3.13 percentage points from a year earlier, continuing a long downward trend, CoreLogic said.
The percentage of delinquent mortgage loans in the Miami-Miami Beach-Kendall area fell 3.87 percentage points in November to 21.24 percent from 25.11 percent a year earlier, the Irvine, Calif.-based data firm reported.
The delinquency rate is the percentage of loans more than 90-days delinquent, including foreclosures and mortgages in which a lender has taken title to a property.
While metro Miami’s trends show continued solid improvement, its rates of foreclosure and mortgage delinquency remain far above national and state levels.
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In November, the foreclosure rate was 10.41 percent across Florida and 2.97 percent nationwide. The delinquency rate was 15.45 percent in Florida and 6.45 percent nationally, CoreLogic reported.