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Miami foreclosure rate fell in February

A “for sale” sign lays on the ground in front of a foreclosed home in Homestead in 2009.
A “for sale” sign lays on the ground in front of a foreclosed home in Homestead in 2009. AP

Miami-Dade County’s foreclosure rate fell in February, continuing a consistent trend since South Florida’s battered housing market began to heal in 2011.

The percentage of local homes in foreclosure dropped to 4.2 percent, according to a report released Wednesday by the property analytics firm CoreLogic. That’s down from 7.84 percent in February 2014.

Florida’s foreclosure rate in February was 3.4 percent, CoreLogic reported. Nationwide, 1.43 percent of homes were in foreclosure.

In addition, nearly ten percent of Miami-Dade homeowners haven’t made a mortgage payment in 90 days or more, down from 14 percent at the same time last year.

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