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There's more good news about the mortgage foreclosure rate in the Indianapolis area, which was 36% lower in August than it was a year ago. 

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, who 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%, said CoreLogic.  That compares with 6.31% a year earlier.

The delinquency rate is a good predictor of coming foreclosures, so its decline suggests even further decreases in the foreclosure rate may be coming. 

Mortgage health in the Indianapolis area continues to look better than the national average.  Nationally in August, the foreclosure rate was 2.36% and the delinquency rate was 5.3%. 

The foreclosure rate has fallen since the aftermath of the recession of 2007-09, in part because unemployment statistics have brightened, throwing fewer homeowners into economic distress.  Indiana's jobless rate has improved from 9.1% in January 2011 to 8.1% this August.

Realtors also are selling fewer foreclosed homes.  In the metro area, foreclosed homes made up 15% of all home sales last month, with 24.1% in the second quarter of 2011. 

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