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Stanislaus County, California
ranks number 2 of the top
100 counties in the nation with the highest percentage of households
facing
foreclosure, according to data provided in RealtyTrac's August 2007
U.S. Foreclosure Market Report.
In August, nationwide totals of 243,947 foreclosure filings were
reported , up 36 percent from the previous month and up 115 percent
from August 2006. This is the highest number of foreclosure filings
in a single month that RealtyTrac has reported since it began
issuing the monthly report in January 2005.
The August report also showed a national foreclosure rate of one
foreclosure filing for every 510 households for the month; the
highest national ratio ever issued by the foreclosure tracking
company.
For the 505505 residents of Stanislaus County the ratio is even
more alarming. One of every 78.66 households in Stanislaus County is
facing foreclosure. The county is home to 167079 homeowners.
California’s foreclosure rate jumped to second highest among the
states thanks to a 48 percent month-over-month spike in foreclosure
activity. The state reported 57,875 foreclosure filings during the
month, a foreclosure rate of one foreclosure filing for every 224
households — more than twice the national average.
With 167079 households and total foreclosure filings in August
reaching 2124, Stanislaus County is one of 19 counties in California
to make the national list for counties with the highest foreclosure
rates.
It is unclear what may have caused the spike in foreclosure
activity in Stanislaus County but nationwide one thing is clear. The
situation is a crises for homeowners with mortgages they can no
longer afford AND an unprecedented opportunity for investors and
home buyers.The resources listed below will help you protect your
home, lower or cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
