U.S. foreclosure filings up 79% in 2007

U.S. foreclosure filings rose 79.2 percent in 2007 compared to 2006, with 1 percent of all households entering a stage of foreclosure, data company RealtyTrac reported today.

Among the 100 largest U.S. metro areas the foreclosure rate was highest in the Detroit area, with 4.9 percent of all homes in that metro entering a stage of foreclosure in 2007.

There were 72,616 total foreclosure filings and 41,273 properties with foreclosure filings in the Detroit metro area in 2007, up 68.2 percent compared to 2006, RealtyTrac reported.

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