MichiganRadio

Home Foreclosures Spiked in May ANN ARBOR, MI (Michigan Radio) -

The number of home foreclosures in Michigan rose again last month.

May saw a 28% increase in the number of Michigan homes in foreclosure.

Daren Bloomquist is with Realty Trac. He says the largest increase was in the number of completed foreclosures by banks.

Bloomquist says government moratoriums on foreclosures created a backlog of home foreclosure filings in Michigan.

"You know, in a sense, it's good news, " says Bloomquist, "Because at least it is creating a resolution for some of these properties that are in the foreclosure process."

Bloomquist says Michigan's highest in the nation' unemployment rate and other factors should continue to contribute to the state's high home foreclosure rate.

One in every 326 homes in Michigan was in some stage of foreclosure last month. © Copyright 2012, Michigan Radio