• Posted on Thursday, January 14, 2010
  • Bookmark and Share
  • email
  • |
  • print
  • |
  • rss

tool name

close
tool goes here

Grim statistic: California's Merced county leads state in foreclosures

Sign up for email newsletters now!

Sign up for email newsletters now!

Never miss a McClatchy story

One out of 10.

That's how many properties in Merced County got foreclosure filings last year.

The grim numbers thrust the county into the top spot for the state of California, according to a new report by RealtyTrac.

Last year, 8,389 properties here received foreclosure filings -- which include default notices, scheduled foreclosure auctions and bank repossessions.

That's up slightly from the 8,291 foreclosure filings in 2008.

Both figures are light years above the 743 foreclosures filed in 2006.

Nationwide, a total of 3,957,643 foreclosure filings were reported on 2,824,674 properties in 2009 -- a 21 percent increase in total properties over 2008.

Merced has the sixth-highest countywide foreclosure rate in the country. The county with the highest rate was Osceola County, Fla., where one in every eight housing units received a foreclosure filing in 2009.

"I'm tired of being No. 1," said Merced Mayor Bill Spriggs. "It's not a fun time right now."

Read the complete story at mercedsunstar

JOIN THE DISCUSSION

We welcome comments. To post one, you must sign in using either your McClatchyDC login or your login for Facebook, Twitter or Disqus. Just click the appropriate box below.

Please keep your comment civil, short and to the point. Obscene, profane, abusive and off topic comments will be deleted. Repeat offenders will be blocked. If you find a comment abusive or inappropriate, please flag it for the moderator by placing your cursor on the comment, then clicking the "flag" link that appears. Thanks for your participation.

ECONOMY Q&A

hall & pugh

McClatchy correspondents Kevin G. Hall (left) and Tony Pugh are available to answer your questions about the economic meltdown at home and abroad, and what's in store for ordinary Americans.