Michigan’s home foreclosure rate has stabilized, but is still much higher than the national rate. One out of every 98 homes in the state is in the foreclosure process.
Daren Bloomquist is a spokeman for RealtyTrac, a company that tracks foreclosures.
“In Michigan I would say the number one issue is unemployment. It's still there and so that's still pushing people into foreclosure. Until we solve that problem, you're still going to see an elevated level of foreclosures in Michigan," Bloomquist said.