Quote:
Originally Posted by DatingGold
Source: Cbs 13 Sacramento
Aug 14, 2007 4:04 am US/Pacific
Stockton Worst In The Nation For Home Foreclosures
(CBS13) STOCKTON It's a top ranking out today that Stockton residents won't like.
Stockton and San Joaquin County are the worst in the nation for home foreclosures, with one in every 27 households going into foreclosure. That amounts to more than 8,000 foreclosure filings.
That's a 256% increase from last year.
Sacramento ranked fifth worst in the nation, according to the Realty Trac Report. One in 36 homes goes into foreclosure, amounting to more than 20,500 filings in Sacramento. That's a 241% increase from last year.
Read more: http://cbs13.com/local/local_story_226071019.html |
damn thats crazy. California is up like 800% from the last 5 years average. this is the worst year on record I heard.
Personally, i believe its because people went option arm or interest only loans and once the principal kicks in after 3,5 or 7 years they cant afford the payments.