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."
Scary.
No comments:
Post a Comment