Business & Economy

Foreclosure numbers up, up, up

Listen to story

Download this story 0.0MB

California still dominates the list of communities in the country hard hit by the foreclosure crisis. KPCC’s Shirley Jahad has more on the latest numbers.

California has six of the country’s top ten communities with the highest number of foreclosures and default notices.

Las Vegas and Fort Myers Florida top the list. Merced is third. Then comes the Inland Empire. More than 80,000 homes face foreclosure or are in default. That’s 12 percent more than last year.

The data comes from RealtyTrac – the Irvine-based real estate information firm. It tallied up properties with at least one foreclosure filing or notice in the first six months of the year. RealtyTrac says there are signs that unemployment accounts for some distressed properties – and not the housing meltdown alone.

In the LA and Santa Ana area, more than a 100,000 homes are in default or somewhere along the way in the foreclosure process. That’s nearly 30 percent more than last year.