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.
