News & Commentary
Oct 16, 2012
Holding Wall Street Accountable
Already suffering from the effect of job loss, Detroit quickly shot to the top of the list of areas most severely impacted by foreclosures in the years covered by this lawsuit. By the beginning of 2007, Detroit was number one of the 100 largest metropolitan areas with the highest foreclosure rates. In Detroit, one in 29 homes had foreclosure proceedings filed with foreclosure notices served on 260 homes each day. Nearly 45,000 homes stood vacant by 2008, creating virtual wastelands in Detroit.
Hear plaintiffs Rubbie McCoy's story:
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