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

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