Despite improving economic news for the Phoenix metropolitan area, foreclosure filings in Maricopa County are running nearly 50% higher than they were last year at this time, according to Foreclosures.com.In the second quarter, 3,246 properties in the Phoenix area went into foreclosure, the Fair Oaks, Calif.-based investment advisory firm said. "Even though rates are on a temporary plateau right now, they have increased enough to close the refinance window for troubled homeowners," said company president Alexis McGee. "Too many people have been using their homes like ATM machines, and some have borrowed out 100% of their home's value. They have no financial headroom in their property if something goes wrong with their income situation."
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