Indianapolis foreclosure rate drops 36%

According to the IndyStar publication, the mortgage foreclosure rate in the Indianapolis area fell 36% from year ago levels in August. The publication notes that:

The drop to 2.14% from 3.36% a year ago continues a gradual slide in the area’s foreclosure rate that began in April 2012, according to CoreLogic, which tracks mortgage data nationally.

The delinquency rate on mortgages — measuring loans on which payments are overdue by 90 days or more — also fell in August, to 4.94%, CoreLogic said Monday. That compares with 6.31% a year earlier.