Michigan's foreclosure activity down, but still 7th highest foreclosure rate in nation

Michigan’s foreclosure activity slowed in the first quarter of 2012, but the housing market still has a ways to go before fully recovering.

“The housing market has gotten through this really bad batch of loans that triggered the foreclosure crisis in the first place,” said Daren Blomquist, vice president at RealtyTrack Inc., an Irvine, Calif.-based foreclosure data firm. “Many of those loans have been either modified or foreclosed on over the last five years in Michigan.”

There were 27,934 foreclosure-related filings in Michigan during the first three months of 2012...

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