Indy foreclosures retreated, Indiana held steady in ’06

Indianapolis ranked third among the 100 largest metro areas last year in rates of mortgage foreclosures—4.3 percent of households, according to RealtyTrac. Only Detroit and Atlanta fared worse. However, Indianapolis foreclosures slowed in the final three quarters, the California company said.

Indiana was 6^th, with Alabama ranking highest. Nationally, the rate shot up 42 percent from 2005 due to the slowing housing market and rising payments due to adjustable-rate mortgages.