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Placer County, California ranks number 30 of 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, 243,947 foreclosure filings were reported nationwide;
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 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 homeowners in Placer County the ratio is even more alarming.
One of every 155.07 households in the county is now facing
foreclosure.
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 137086 households and total foreclosure filings in August
reaching 884, Placer County is one of 19 counties in California to
make the national list for counties with the highest foreclosure
rates.
Although it is unclear what may have caused foreclosure activity
in Placer County to spike, one thing is clear. The situation is a
national crises for homeowners with mortgages they can no longer
afford AND an unprecedented opportunity for investors and home
buyers.
The resources listed below can help you protect your home,
lower and even cancel your mortgage, or find a new home at a price
no one could have imagined just a few years ago. |
