Michigan foreclosure rates in top US 5

A data firm says the number of U-S homes facing foreclosure surged 58 percent in the first six months of the year, the latest sign of mounting problems in the mortgage industry.

In all, more than 573-thousand properties across the nation reported some sort of foreclosure activity in the first half of this year, according to Irvine, California-based RealtyTrac.

That was 58 percent higher than the 363-thousand properties in the first six months of 2006 and 32 percent higher than the 433-thousand in the last six months of 2006.

Michigan had the nation’s fifth-highest rate of foreclosure filings with 40-thousand.

California, Florida, Texas and Ohio had the highest number of homes receiving foreclosure-related notices.