There's something special about being ranked No. 1 in the nation.
Not talking USC football here. (Although Rancid Truth hereby predicts a 12-0-0 season for the Trojans in 2007. Remember you heard it hear first).
No, unfortunately California earns the No. 1 distinction in another, more dismal category: home foreclosures.
California year-to-date pre-foreclosures are at 132,101.
For July, 23,662 foreclosures were filed in the state. Florida is a close second to the Golden State with 21,120 filings in the same month.
"The numbers are dismal, but we had better get used to it because the
blood-letting will likely continue for another 12-18 months," says Foreclosures.com President Alexis McGee. "It's a tough reality, but many more overextended homeowners not even in default yet won't be able to refinance because of tightened credit markets and will eventually lose their homes to foreclosure."