Foreclosure rates, mortgage delinquency down in South Floridaregion

Foreclosure rates were down in each of South Florida’s counties, with Miami-Dade recording the largest percentage point decrease, according to a new CoreLogic report. The region is still recording a significantly higher rate, however, than the rest of the country, which had a rate of 3.41 percent in April, the report noted. In Miami-Dade, the foreclosure rate among outstanding loans was 17.43 percent in April, a decrease of 1.61 percentage points compared to the same time a year ago. Mortgage delinquency was also down: 24.35 percent of mortgage loans were 90 days or more delinquent compared to 26.43 percent, a decrease of 2.08 percentage points for April. Foreclosure rates in Broward for the month of April were at 13.86 percent, a decrease of .64 percentage points compared to the same time last year. Broward county also had 19.63 percent of its mortgage loans 90 days or more delinquent, a decline of 1.56 percentage points from last year. Finally, foreclosure rates on outstanding loans in Palm Beach were down to 12.37 percent in April, a decrease of .77 percent from the same time a year ago. As in the region’s other counties, Palm Beach recorded a smaller mortgage delinquency, with 17.63 percent of its mortgage loans at 90 or more days delinquent, a decline of 1.68 percent points. Oscar Pedro Musibay Reporter- South Florida Business Journal