CoreLogic: Foreclosure rates fall in Prov. metro, R.I. in July

FORECLOSURE RATES fell in the Providence-Warwick metropolitan area in July to 1.6 percent, a decrease from July 2014 when the rate was 1.8 percent, CoreLogic said Friday. / COURTESY CORELOGIC
FORECLOSURE RATES fell in the Providence-Warwick metropolitan area in July to 1.6 percent, a decrease from July 2014 when the rate was 1.8 percent, CoreLogic said Friday. / COURTESY CORELOGIC

PROVIDENCE – Foreclosure rates fell in the Providence-Warwick metropolitan area in July to 1.64 percent, a decrease from July 2014 when the rate was 1.79 percent, CoreLogic said Friday.
However, the foreclosure rate in the Providence metro was higher than the national foreclosure rate, which was 1.26 percent in July.
Rhode Island’s foreclosure rate at 1.55 percent also was higher than the national rate in July, but, like the Providence metro, also declined year over year, as it was 1.92 percent in July 2014.
The mortgage delinquency rate – representing mortgage loans that are 90 days or more delinquent and including those in foreclosure and that are real estate-owned – declined in July in the Providence metro, to 4.88 percent, compared with 5.75 percent for the same period last year, CoreLogic said.
Rhode Island’s mortgage delinquency rate also was 4.86 percent in July, dropping from 5.7 percent a year earlier.

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