Foreclosure rates drop by nearly half

SARASOTA — Foreclosure rates in the North Port-Sarasota-Bradenton region decreased by nearly half in August compared to the same period last year, according to data provider CoreLogic.

In the region, foreclosure rates fell to 2.08% in August, down from 3.97% in August 2014, the report shows. Statewide foreclosures rates also decreased in August, falling to 2.66% from 4.57%.

Another positive sign for the region is the drop in the mortgage delinquency rate, which is down to 4.24% from 7.12% in August 2014, according to CoreLogic.

Overall, however, Sarasota-Manatee's foreclosure and mortgage delinquency rates fared worse than the national average. The national foreclosure rate in August was 1.25%, CoreLogic states, and its mortgage delinquency rate was 3.44%.