Wednesday, August 22, 2007

California's foreclosures top nation

As seen in the Silicon Valley / San Jose Business Journal
- 2:25 PM PDT Tuesday, August 21, 2007

California reported 39,013 foreclosure filings in July, the most of any state for the seventh month in a row and up 289 percent from the same period last year, according to a report released Tuesday.

Irvine-based RealtyTrac, an online marketplace for foreclosure properties, said that while 43 states experienced year-over-year increases in foreclosure activity, just five states -- California, Florida, Michigan, Ohio and Georgia -- accounted for more than half of the nation's total foreclosure filings.

Six California metropolitan areas reported foreclosure rates among the top 10 in July: Stockton at No. 2, Merced at No. 3, Modesto at No. 4, Vallejo-Fairfield at No. 5, Riverside-San Bernardino at No. 8, and Sacramento at No. 9.

Other states with foreclosure filing totals among the nation's 10 highest in July were Georgia, Texas, Colorado, Arizona, Illinois and Nevada.

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