R.I. foreclosure rate falls

PROVIDENCE – Foreclosures touched 3.38 percent of homes with outstanding mortgages in Rhode Island in April, up from 2.27 percent the same month last year, CoreLogic said Tuesday.
The April rate marked the first time in a year the rate has not increased from the prior month, the California-based real estate tracking firm said. Nationally, the foreclosure rate stood at 3.47 percent.
The number of Rhode Island homeowners 90 days or more past due declined for the first time since October 2010, CoreLogic said. The company said that 7.39 percent of homeowners were 90 days or more delinquent, a fall from 7.5 percent in March 2011 and 8 percent from April 2010.
Nationally, 7.39 percent of borrowers were 90 days or more late on payments, down from 8.16 percent at the same time last year.