Sunday, September 9, 2007

Metro Detroit Leads the Nation in Subprime Loans

Metro Detroit homeowners pay higher interest rates, have more subprime loans, and have the highest foreclosure rate of any other area in the country. 55% of loans in 2006 were subprime, and Metro Detroiters pay double the national average. And in Wayne County, two out of three loans were subprime.

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