Tampa Bay's foreclosure rate continues to drop although it remains above both the state and national averages.
In December, 1.8 percent of all bay area homes were in some stage of foreclosure proceedings compared to 3.13 percent in the same month a year earlier, CoreLogic reported Thursday. At the peak of the foreclosure crisis in 2010, nearly 5 percent of all local homes faced foreclosure.
The percentage of bay area borrowers at least 90 days late on their mortgage payments has also dropped, down to 4 percent in December compared to about 6 percent the year before.
Nationally, less than 1 percent of homes were in some stage of foreclosure in December while 2.64 percent of borrowers were seriously delinquent on their mortgages. For Florida, the December foreclosure rate was 1.46 percent and the delinquency rate was 3.72 percent.