Researcher: Wisconsin foreclosure rates lowest in 2 decades

Source: MGN
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MADISON, Wis. (AP) -- A researcher who tracks foreclosures in Wisconsin says the state has the lowest foreclosure rate it's seen in nearly two decades.

The Wisconsin Public Radio reports that University of Wisconsin-Whitewater economic professor Russell Kashian says the rates have dropped because of stricter lending criteria, more renters and high employment rates.

Kashian started tracking foreclosures in 2008 in order to identify hot spots in Wisconsin.

His research indicates Milwaukee County had 36 to 55 foreclosures that were filed per 10,000 people in 2009. Those numbers were 11 to 20 foreclosure filings per 10,000 people a decade later.

Revitalize Milwaukee CEO Lynnea Katz-Petted says that her nonprofit has noticed a jump in foreclosures on older homeowners.

Kashian's research reveals that there have been nearly 3,600 foreclosure filings in Wisconsin this year.