Sarasota-Bradenton foreclosures drop to under 4.2%

The foreclosure rate for the North Port-Sarasota-Bradenton region decreased in July, according to a new report, but the tally remains above the national average.

The report, from real estate analytics and data firm CoreLogic, states foreclosures among outstanding mortgage loans in the region were 4.14% in July. That's a drop of 3.2 percentage points from July 2013, when the rate was 7.34%. The year-over-year mortgage delinquency rate for the region also decreased, the report shows. In that category 7.33% of mortgage loans were 90 days or more delinquent in July, down 3.74 percentage points from 11.07% in July 2013.

The region's 4.14% foreclosure rate, despite the decrease, remains well above the national foreclosure rate, which was 1.66% in July, according to CoreLogic.