Home Foreclosures Up in Michigan

By: Associated Press
By: Associated Press

The number of homes undergoing foreclosure in Michigan doubled from February 2004 to February 2006.
Homes in Michigan are going into foreclosure at a rate that is two-and-a-half times the national rate.
That's the word from a Web site that monitors foreclosures.
It says as of this morning, Michigan had 82-hundred homes in some stage of the foreclosure process out of 96-thousand nationwide.
Michigan's foreclosures are eight-point-six percent of the U-S total, while its population of ten (M) million is three-point-four percent of the nation's 296 (M) million.
The state's seasonally adjusted jobless rate ended 2005 at six-point-seven percent, compared with the national rate of four-point-nine percent.


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