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Foreclosure rates dropping in Kalamazoo area

KALAMAZOO/PORTAGE, Mich. (NEWSCHANNEL 3) - The newest housing report indicates foreclosure rates in the Kalamazoo-Portage area are falling.

The figures, released from Corelogic Monday, show foreclosure rates in October 2013 at nearly one percent. That's down from 1.27 this same time last year.

The Kalamazoo-Portage rate is also lower than the national foreclosure rate. That rate sits at more than two percent.