Shelby Co. sees more foreclosures in more affluent neighborhoods - WMC Action News 5 - Memphis, Tennessee

Shelby Co. sees more foreclosures in more affluent neighborhoods

MEMPHIS, Tenn. (AP) - Shelby County is one of the hardest hit areas in the state for home foreclosures.

Real estate experts say the county is now starting to see the problem move beyond depressed neighborhoods and into affluent areas, such as Cordova.

RealtyTrac, an online marketer of foreclosure properties, compiled the 500 top zip codes for foreclosures and found 13 in Tennessee all of them in Memphis except for one listed as Cordova, according to CNNMoney.com.

(Copyright 2007 by The Associated Press. All Rights Reserved.)

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