According to CNN, Detroit is leading the way in the foreclosure trend, with 1.25% of households undergoing foreclosure. Foreclosures are up 43% from the same time last year, showing a frightening trend.
Local events, such as the auto industry slump in Detroit, certainly play a part, but so does the depression of the real estate market generally. The recent surge in predatory lending such as equity stripper most certainly plays another part.
If you are facing foreclosure, contact an attorney that can help you find help.
To find a consumer or bankruptcy lawyer, use the Caveat Emptor Consumer & Bankruptcy Lawyer Directory.
