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Published: Wednesday, 8/15/2007

Local foreclosure rate worsens in quarter

Metro Toledo ranks as the 26th worst among the nation s 100 largest cities in foreclosure actions, a new study shows. The ranking is worse than one early this year.

Stockton, Calif., and Detroit had the highest foreclosure rates among major metro areas in the nation at the end of June, according to RealtyTrac, an online business. Stockton had one foreclosure action for every 27 households and Detroit had one per 29 households.

Toledo had one for every 84 households, and its ranking was worse than its 29th spot after the first three months of this year, RealtyTrac said. Foreclosure actions jumped 51 percent in the metro area in the first six months of this year, to 3,530, compared with the same period last year, the study shows.

Elsewhere in Ohio, metro Cleveland ranked 10th among the major U.S. cities, with one action per 50 households; Dayton was 16th, one per 63 households; Akron was 18th, one per 70 households; Columbus was 20th, one per 70 households; and Cincinnati was 34th, one per 100 households.

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