Detroit 2nd nationally among metro areas with most foreclosures

By: The Associated Press
By: The Associated Press

Metropolitan Detroit has one of the nation's highest rates of home foreclosures.

A mortgage research company says there was one foreclosure filing for every 33 Detroit-area households in July through September.

Only metropolitan Stockton, California, had a higher rate at one foreclosure for every 31 households.

The Detroit area reported 26,000 foreclosure filings, about twice the level of a year earlier.

The figures come from RealtyTrac in Irvine, California.

The company says many homeowners now are getting in trouble in the formerly hot real estate markets of California and Florida.


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