A total of 523,624 California properties received foreclosure filings, including default notices, auction sale notices and repossessions in 2008. This was a 110 percent increase from 2007 and almost five times as many compared to 2006.
The city Stockton registered the highest foreclosure rate in California and the nation with a 9.46 percent of its housing receiving a foreclosure filing during the year. Other California cities in the nation's 100 largest metropolitan areas in 2008 included Riverside-San Bernardino at number 3, Bakersfield at number 4 and our own Sacramento at number 9.
Sacramento foreclosure filings impacted one in 19 properties or 5.2 percent of all homes. This compares to a rate of one in 54 across the country.
If you or someone you know is struggling to make ends meet and are unable to continue to make mortgage payments on a home where the value is now less than the loan amount, call us. We can help you avoid foreclosure and get you back on the road to financial independence. We have been helping stop Sacramento foreclosures for two years and have an experienced team to guide you through the Short Sale or loan modification process.
If you are interested in learning more about short sales see one of my articles on the subject, "Six Steps to a Successful Short Sale."
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