2 percent of Phoenix-area homes in foreclosure in 2007

The Business Journal of Phoenix reports:

As the Federal government rolls out a plan to help homeowners fend off foreclosure, the grisly numbers from 2007 show just how deep the problem has cut across Arizona and America.

The Phoenix area ranked 22nd among cities for the most foreclosure activity. There were more than 56,000 foreclosure filings in the Valley last year, up 177 percent from 2006. Nearly 2 percent of all Phoenix-area homes were touched by a foreclosure filing last year.

Of the 100 largest U.S. cities surveyed by RealtyTrac, 86 reported higher foreclosure rates. Rust Belt and Sun Belt cities led the nation in metro-area foreclosure rates for 2007, according to the group's new report.

Detroit led U.S. cities with nearly 5 percent of its households entering some stage of foreclosure, which is 4.8 times the national average, according RealtyTrac, an online marketplace for

Even population growth isn't helping Phoenix right now.