housing

Single-family foreclosure rate in
Providence, N.B. region continues decline

Posted 10/11/11

PROVIDENCE – The foreclosure rate for single-family homes in the Providence-Fall River-New Bedford region dropped for the fourth straight month in July, but remains higher than the same period last year, according to figures released by real estate tracking firm CoreLogic on Tuesday.

The July 2011 foreclosure rate for the area was 2.9 percent, up from 2.64 percent in July of 2010.

Although higher than it was last year, the July foreclosure rate dropped from 3 percent in June and has been declining since March, when it was 3.21 percent, according to CoreLogic.

Along with the foreclosure rate, the rate of homeowners falling behind more than 90 days on their mortgages in the area dropped in July to 7.15 percent, the lowest rate since August 2009.

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