Michigan Ranks 5th in the U.S. in Foreclosures

Nevada leads the nation in percentage of foreclosed homes, but California records a massive 92,326 foreclosures!

In a recently released report, Michigan ranked 5th in foreclosures, based on the percentage of homes in foreclosure to non-foreclosed homes. In quantity alone, Michigan ranked 4th. Here is the breakdown:

#1 is Nevada with a ratio of 1 out of every 62 homes in foreclosure (17,902 total foreclosures

#2 is Florida with 1 out of every 140 homes in foreclosure (a whopping 62,401 total foreclosures)

#3 is California with 1 out of 144 homes in foreclosure (a massive 92,326 total foreclosures.

#4 is Arizona with 1 out of 150 homes in foreclosure (17,807 total foreclosures)

#5 is Michigan with 1 out of 234 homes in foreclosure (19,359 total foreclosures)

Believe it or not, many of these states have shown improvement in August over July, as some of the government & lender initiatives have helped cut this down.

What is your feeling or experience on the foreclosure crisis? Let us know.