California Cities See Rising Foreclosures

A RealtyTrac analysis has found that foreclosures rose in 77 of the top 100 metropolitan areas in the third quarter, with California, Ohio, and Florida accounting for two-thirds of the cities with the highest foreclosure rates nationally.The highest foreclosure rates were found in Stockton, Calif.; Detroit; and Riverside-San Bernardino, Calif. Stockton recorded one foreclosure filing for every 31 households in the third quarter, the nation's highest rate among metro areas. Detroit, whose third-quarter foreclosure filing rate was one for every 33 households, saw twice as many foreclosure filings in the third quarter as in the second quarter. In Riverside-San Bernardino, the rate was one filing for every 43 households. Other cities among the top 10 for foreclosure filings were Fort Lauderdale, Fla.; Las Vegas; Sacramento, Calif.; Cleveland; Miami; Bakersfield, Calif.; and Oakland, Calif. Seven California metro areas were among the 25 cities with the highest foreclosure rates.