Foreclosure inventory rate falls in April in R.I.

PROVIDENCE – Rhode Island’s foreclosure inventory rate fell to 1.5 percent in April, a 6 percent drop from April 2015, CoreLogic said on June 14.

Rhode Island had 1,336 completed foreclosures for the 12 months ending in April, a 17.1 percent drop from 1,612 completed foreclosures during the same time frame a year before.

Following downward trends, the Ocean State’s serious delinquency rate also fell, to 4.2 percent, a year-over-year drop of 20.4 percent. The serious delinquency rate reflects mortgages that are 90 days or more past due, including loans in foreclosure or real estate-owned properties. •

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