Detroit registered the highest foreclosure rate among the nation's 100 largest metro areas, with close to 5 percent of its households entering some stage of foreclosure during the year -- 4.8 times the national average and up from about 3 percent in 2006. A total of 72,616 foreclosure filings on 41,273 properties were reported in the Detroit metro area in 2007, up 68 percent from 2006. The other Michigan metro area with a foreclosure rate in the top 20 was Warren-Farmington Hills-Troy at No. 17.
With 4.866 percent of its households entering some stage of foreclosure during the year, Stockton, Calif., documented the second highest metro foreclosure rate.
Saturday, February 16, 2008
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