State 3rd in foreclosure rate [Michigan]
Michigan’s foreclosure rate ranked third nationwide for 2007, according to data released Monday by RealtyTrac Inc.
The Irvine, Calif.-based foreclosure Web site reported that 1.9% of Michigan’s households entered some stage of foreclosure during the year.
The company counted 136,205 foreclosure filings on 87,210 properties, a 68% increase over 2006 figures and a 282% rise from 2005.
Michigan ranked behind Nevada and Florida.