Miami’s foreclosure rate fell again in January
03/31/2014 6:10 PM
03/31/2014 6:11 PM
The Miami area’s mountain of foreclosures continues to dwindle.
In the Miami-Miami Beach-Kendall area, 8.09 percent of the mortgages outstanding in January were in some stage of foreclosure, down from 14.02 percent a year earlier, according to CoreLogic.
Despite the long-improving trend, Miami’s foreclosure activity remains dramatically higher than the national average, which was 1.97 percent for January, the Irvine, Calif.-based data firm said.
The Miami area’s mortgage delinquencies also continued to improve.
The mortgage delinquency rate — or the share of mortgages 90-days late or more — fell to 14.41 percent of loans in January. That compared to 20.47 percent a year earlier, CoreLogic said.
The national average for mortgage delinquencies was 4.93 percent in January, down from 6.36 percent a year earlier.
For Florida, January’s foreclosure rate fell to 6.22 percent of mortgages outstanding, down from 10.1 percent a year earlier. The state’s mortgage-delinquency rate dropped to 10.81 percent from 14.99 percent a year earlier, the data firm said.
Join the Discussion
Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.