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Inland Regions See Higher Foreclosure Rates

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(Sacramento, CA)
Monday, July 19, 2010
Daren Blomquist is with RealtyTrac. He says Stanislaus, Merced, San Joaquin and Sacramento counties are among the top ten regions with the highest foreclosure totals.

The latest figures reflect the first six-months of the year.

“…although those counties are showing for the most part decreases in foreclosure activity over the same time period a year ago. If you go down to San Francisco, it’s very low in terms of foreclosure rate. However, the San Francisco foreclosure numbers are actually up 35% from a year ago. So, it’s kind of a mixed bag.”

Blomquist says a new wave of foreclosures could be coming, especially if the jobless rate stays high; mortgage-assistance programs end; and the economy doesn't improve fast enough to lift home sales.
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