Foreclosure in Providence below national rate

SACRAMENTO, Calif. – The foreclosure rate in the Providence area rose in February compared with the year before, but was slightly lower than the national average, according to data released by First American CoreLogic, a tracker of real estate data.
About 1.6 percent of mortgages in the Providence-New Bedford-Fall River metro area were foreclosed in February, just 0.2 percent higher than the 1.4 percent foreclosed in February 2008.
Nationally, 1.7 percent of mortgages were foreclosed on in February, CoreLogic reported.
At the same time, the rate of mortgage delinquency in the Providence area rose to 5.4 percent of loans being 90 days or more delinquent – an increase from the 4.2 percent 90 days or more delinquent in February 2008.
Nationally, 5 percent of mortgages were 90 days or more delinquent.
First American CoreLogic, a member of The First American Corp. group of companies, is a national provider of real estate, property and ownership data. It collects data from 7,569 ZIP codes in the 50 states and District of Columbia. For more information, visit www.CoreLogic.com.