Here are some of the lowlights the Detroit News published as part of their multi-part special report on the foreclosure crisis:
■In Detroit, 56 percent of mortgage foreclosures are now blighted or abandoned. At least 13,000 are slated for demolition at a projected cost of $195 million. The total cost of blight is $500 million.
■More than 1 in 3 homes have been foreclosed in 10 years in Detroit, the equivalent of every house in Buffalo.
■In Detroit, homes lost to foreclosure are often never reoccupied: 76 percent of the 84,000 properties on the city’s blight list are tax or mortgage foreclosures.
■Subprime lending was rampant in Detroit. Of all city mortgages, 68 percent were subprime in 2005, compared to 27 percent statewide and 24 percent nationwide, according to federal records. Video: Understanding prime vs. subprime mortgages.
■Defunct subprime lenders Argent, Ameriquest and New Century Financial Corp. had some of the highest rates of foreclosures that later became problems for the city.
■Of those, 52 percent are now considered blighted, demolition-worthy or have been seized by Wayne County for the owner’s failure to pay taxes. Citywide, 56 percent of all mortgage foreclosures are now similarly troubled.
■Detroit-based Quicken Loans, founded by Dan Gilbert, had the fifth-highest number of Detroit mortgages that ended in foreclosure among lenders in that time period.
■Mayor Mike Duggan is searching for more federal funds to continue a blitz that demolished 3,500 buildings last year at a cost of about $15,000 per home. Tens of thousands remain.
■The Wayne County Treasurer’s Office plans this fall to auction about 30,000 Detroit properties — including about 10,000 occupied homes — that are three or more years delinquent on taxes.
■Greensboro Street in northeast Detroit is an extreme example of the impact of subprime loans and foreclosures. All but five of 38 homes on a stretch of Greensborohave gone into mortgage or tax foreclosure since 2005. Graphic: The decimation of one city block.
■Meanwhile, Detroit officials did not follow the moves of other cities such as Cleveland and Memphis, Tennessee, that sued lending institutions over predatory lending and subsequent blighted foreclosures.
■On Prest Street, many homes were foreclosed and abandoned, some more than once.
■Video: Reporters Joel Kurth and Christine MacDonald get to the heart of the issue.