CoreLogic: Foreclosures in metro area below national rate in Dec.

Foreclosures in the Providence-Warwick metro area declined for the month of December on a year-over-year and month-over-month basis, according to a CoreLogic report released Monday. More

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CoreLogic: Foreclosures in metro area below national rate in Dec.

COURTESY CORELOGIC
THE FORECLOSURE RATE in the Providence-Warwick metro area came in at 2.03 percent in December, 0.78 percentage points lower than the 2.81 percent reported in December 2012, and 0.06 percentage points below the national rate for December of 2.09 percent.
Posted 2/24/14

IRVINE, Calif. – Foreclosures in the Providence-Warwick metro area declined for the month of December on a year-over-year and month-over-month basis, according to a CoreLogic report released Monday.

The CoreLogic data put the rate of metro-area foreclosures among outstanding mortgage loans at 2.03 percent in December, a decline of 0.78 percentage points compared with 2.81 percent in December 2012.

In November, the CoreLogic foreclosure rate for the metro area was 2.12 percent.

CoreLogic defines the foreclosure rate as the percentage of home loans in some stage of the foreclosure process, and does not include new foreclosure filings.

Foreclosure activity in Providence-Warwick for December was 0.06 percentage points lower than the national foreclosure rate of 2.09 percent. A year earlier, in December 2012, the U.S. foreclosure rate was 2.95 percent.

In addition to the lower foreclosure rate, the mortgage delinquency rate dropped in the Providence-Warwick metro area for December. According to CoreLogic report, 6.45 percent of mortgage loans were delinquent 90 days or more in November, compared with 7.29 percent during the same period the year prior. The Providence-Warwick mortgage delinquency rate also declined slightly from November, when it was 6.46 percent.

Providence-Warwick’s mortgage delinquency rate for December was higher than the national rate of 5.03 percent. In December 2012, 6.4 percent of mortgage loans were delinquent 90 days or more in the United States.

CoreLogic, based in Irvine, Calif., is a property information, analytics and services provider in the United States and Australia.

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