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Thu March 15, 2012
Michigan's home foreclosure crisis easing
Michigan’s home foreclosure rate continued to fall in February.
Realty Trac reports today that one in every 433 Michigan homes had a foreclosure notice filed against it in February.
That was an improvement over January (down 18%) and a big improvement compared to February a year ago (down 25%).
The better statewide numbers are mirrored in the Detroit market (down 17% from January-down 27% from February, 2011), which has long been the epicenter of Michigan’s foreclosure problems.
Nationwide, foreclosure activity continued to decline last month (down 2% from January-down 8% from February, 2011)