Michigan ranks 7th in foreclosures
by Carol Marshall | Oakland Business Review Friday July 25, 2008, 10:19 AM
Michigan ranked seventh in the country in foreclosures during the second quarter of this year, according to data released July 25 by RealtyTrac.
Detroit was among the metro areas with the highest number of foreclosures, along with Las Vegas, Phoenix, Miami and San Diego.
One in every 137 Michigan households was subject to a foreclosure filing during the second quarter, compared to list leader Nevada, where one in ever 43 homes was the subject of a filing.
One in every 66 homes in the Detroit metro area were subject to a filing, ranking No. 12 in the country. By comparison, one in every 25 Stockton, Calif., households went into foreclosure during the second quarter, earning that city the No. 1 ranking in foreclosures.
RealtyTrac publishes foreclosures data, and reported that Nevada, California and Arizona posted the most foreclosures in the second quarter.
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