R.I. foreclosures drop 10% in 2013

Rhode Island saw 1,468 foreclosures for single-family and multifamily homes in 2013, a 10.2 percent decline from 1,634 foreclosures the previous year, affordable homes coalition HousingWorks RI reported Friday. Overall, 22 Rhode Island cities and towns saw foreclosures decline last year, while 12 municipalities and Providence’s East Side saw foreclosures increase and five saw no change. More

To continue reading this article, please do one of the following.



housing

R.I. foreclosures drop 10% in 2013

COURTESY HOUSINGWORKS RI
HOUSINGWORKS RI reported Friday that foreclosures for single-family and multifamily homes dropped 10.2 percent in 2013 compared with the previous year. Overall, 22 Rhode Island cities and towns saw foreclosures decline last year, while 12 municipalities and Providence’s East Side saw foreclosures increase and five saw no change.
COURTESY HOUSINGWORKS RI
HOUSINGWORKS RI reported Friday that foreclosures for single-family and multifamily homes dropped 10.2 percent in 2013 to 1,468 compared with 1,634 foreclosures the previous year.
Photo
1
2
Posted 3/28/14

PROVIDENCE – Rhode Island saw 1,468 foreclosures for single-family and multifamily homes in 2013, a 10.2 percent decline from 1,634 foreclosures the previous year, affordable homes coalition HousingWorks RI reported Friday.

The state average for the percentage of mortgaged stock attributable to foreclosures was 0.8 percent in 2013, down from 0.9 percent a year earlier.

Ten municipalities reported rates higher than the Rhode Island average, including Woonsocket (2.16 percent); Providence (1.99 percent) excluding the East Side; West Warwick and Pawtucket (each with 1.47 percent); Central Falls (1.07 percent); Burrillville, Johnston and Coventry (each with 1.05 percent); Warwick (0.93 percent) and North Providence (0.89 percent).

Overall, 22 Rhode Island cities and towns saw foreclosures decline last year, while 12 municipalities and Providence’s East Side saw foreclosures increase and five saw no change.

New Shoreham, Little Compton and Jamestown each reported no foreclosures during 2013. Barrington (0.13 percent), Narragansett (0.21 percent) and South Kingstown (0.23 percent) had the lowest foreclosure rates in the state.

“Despite the overall decline in actual residential foreclosures, persistent unemployment and high housing cost burdens leave many homeowners still vulnerable to foreclosure,” stated the HousingWorks report. “Income loss due to unemployment leaves homeowners at a disadvantage when trying to cover their basic housing costs. Across Rhode Island, higher rates of unemployment correlate to higher housing cost burdens.”

Next Page
Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • 40 Under Forty
    We're almost sold out. The 10th Anniversary of 40 Under Forty, and PBN is planni ...
  • Healthiest Employers
    Save the date - August 14th - at the Providence Marriott for the 3rd annual Heal ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement