Thursday, 15 November 2007 22:30
Stockton Tops Nations Foreclosures
Stockton, Calif. topped the nation in mortgage
foreclosures for the third quarter of this year. Stockton recorded one foreclosure filing for every 31
households during the quarter, the highest foreclosure rate among the
nation’s 100 largest metro areas. According to a study compiled by RealtyTrac,
a total of 7,116
foreclosure filings on 4,409 properties were reported in the Stockton metro
area during the quarter, up more than 30 percent from the previous quarter.
Sacramento and Oakland also showed up in the nation’s top 10 metro foreclosure
rates. California cities accounted for seven of the top 25 metro foreclosure
rates, while Florida and Ohio each accounted for five of the top 25 spots.
"Increasing foreclosure activity was not limited to just a few hot spots,"
said James Saccacio, chief
executive officer of RealtyTrac. "In fact, 77 out of the top 100 metro
areas reported more foreclosure filings in the third quarter than they had in
the previous quarter."