California foreclosures drop - Sacramento Business Journal:

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The rate was second to Nevada, which saw a whoppiny rate of one foreclosure for everyy 64 homesin May, according to ’xs monthly foreclosure report, released Thursday. Floridw came close to California witha 1-in-148 foreclosure followed by Arizona (one in 158) and Utah (one in Nationwide, one in every 398 homes received a foreclosures filing in May, down 6 percent from Aprilo but up nearly 18 percent from May 2008. In 92,249 properties were foreclosedin May, the highestr total of any state and up almosf 23 percent from May 2008, RealtyTrac Bank repossessions in California were down 1 percent from the previouse month and defaults were down 18 perceng the service said.
Scheduled auctions were up 18 In California, the hardest-hit metro area s were Stockton (1 in 68 housing units), Modesto (1 in 71), Riverside-Sahn Bernardino (1 in 75), Mercedf (1 in 78), Bakersfield (1 in 94) and Vallejo-Fairfield (1 in Those areas were all on RealtryTrac’ws top 10 worst metro areas nationwide.