Michigan 7th in U.S. in Foreclosures

Michigan’s foreclosure epidemic showed no signs of slowing in 2010 as a rough economy continued to push families to the brink.

In Michigan, a record 72,810 properties were repossessed by lenders last year.

That was up 23% from 2009.

Nationally, a record high of 1 million properties were repossessed from delinquent homeowners.

According to RealtyTrac, Michigan had the 7th-highest foreclosure rate in the country last year.

Michigan had one foreclosure filing for every 33 households.

The national average was one in 45.

Michigan foreclosure filings were up nearly 15% from 2009 and up 28% from 2008.

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