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California Dominates Mid Year Foreclosures



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(Sacramento, CA)
Thursday, July 26, 2012

Stockton posted the nation's highest foreclosure rate between January and June…followed by four other California metro areas…

"Modesto - 2, Riverside-San Bernardino - 3, Vallejo-Fairfield - 4 and Merced, California is number 5."

RealtyTrac's Daren Blomquist says other metro areas in the top 20 include: Sacramento, Bakersfield and Fresno. 
 
That's even though California, for the most part, is bucking the national trend of higher foreclosure activity compared to the previous six-months.
 
"Most of the metro areas in California are actually seeing decreasing foreclosure activity because California did not have as big a delay in foreclosure processing as some of these other states where we're seeing the increases."
 
Still, Blomquist says many California metro areas have high-percentages of underwater mortgage holders and that could ultimately lead to an uptick in foreclosure rates. 

 

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