HousingWorks: Foreclosures fell 17% in 2Q

FORECLOSURES FELL 17 percent in Rhode Island in the second quarter, to 326 deeds filed, according to HousingWorks RI at Roger Williams University.
FORECLOSURES FELL 17 percent in Rhode Island in the second quarter, to 326 deeds filed, according to HousingWorks RI at Roger Williams University.

(Updated 12:09 p.m.)
PROVIDENCE – Foreclosures fell 17 percent in Rhode Island in the second quarter, to 326 deeds filed, according to HousingWorks RI at Roger Williams University.
The decline is compared to deeds filed in the second quarter of 2014. By another set of data, foreclosure starts, Rhode Island has a rate of .48 percent, or third place in New England, behind Connecticut and Maine.

Although the trend is encouraging, a HousingWorks RI researcher said many households remain burdened in the Ocean State by high housing costs.
“It is encouraging to see the state rate of foreclosures drop below .2 percent and to see foreclosure starts decline,” said Courtland Hall III, a research assistant. “This is tempered, however, by the number of homeowner households that are still burdened by housing costs.”

Twelve communities in Rhode Island had foreclosure rates that exceeded the state average of .18 percent. They were led by Providence (excluding the East Side), which had a foreclosure rate, as a percentage of mortgages, of .43 percent.
Other communities with higher-than-average rates were: Woonsocket, Hopkinton, Exeter, Foster, Warwick, Cranston, Providence (East Side), Scituate, East Greenwich, Johnston, West Warwick and Coventry.
Four communities had no foreclosure starts in the second quarter: Charlestown, Jamestown, Narragansett and New Shoreham.

No posts to display