Sacramento Has 9th Highest Foreclosure Rate In U.S.

Share |
(Sacramento, CA)
Friday, June 13, 2008

New figures out Friday from RealtyTrac show that one in every 183 California households got some kind of foreclosure filing in May. That’s up 11% from the previous month. 

Darren Bloomquist is with RealtyTrac. He says rising gas prices are making matters worse. 

"Gas prices have gone up so high it’s probably putting an extra burden on those commuters. They already were paying a lot extra just to commute to and from work. Now they’re paying a lot more and that’s eating into their ability to make their mortgage payments."

The RealtyTrac numbers show that Northern California dominates the top 10 metro areas for foreclosures in the United States.

Stockton is number one. Merced is in third place. Modesto is in fourth. Vallejo and Fairfield share the seventh spot…and Sacramento has the ninth highest foreclosure rate in the country.