Oregon Mortgages

Foreclosure’s Still on the rise.

Well RealtyTrac who sells foreclosed homes released a mid-year report showing California and Ohio cities are accounting for 10 of the top 20 metro area foreclosure rates. Some areas where foreclosures skyrocketed have been slowing “but the overall trend is toward escalating foreclosure rates, with 82 of the top 100 metro areas reporting year-over-year increases in the number of homes affected by foreclosure,” says James J. Saccacio, CEO of RealtyTrac.

Here is the top 20 list you DON’T want to see your city on!

Stockton, Calif.
Detroit/Livonia/Dearborn, Mi
Las Vegas/Paradise, Nev.
Riverside/San Bernardino, Calif.
Sacramento, Calif.
Denver/Aurora, Colo.
Miami
Bakersfield, Calif.
Memphis, Tenn.
Cleveland/Lorain/Elyria/Mentor, Ohio
Fort Lauderdale, Fla.
Atlanta/Sandy Springs/Marietta, Ga.
Fort Worth/Arlington, Texas
Fresno, Calif.
Indianapolis
Dayton, Ohio
Dallas
Akron, Ohio
Oakland, Calif.
Columbus, Ohio

I found the information interesting for the most part. I found the article via the NAR website. I believe I also read somewhere that Fannie and Freddie were denied the ability to purchase more loans. They were seeking approval to help solve part of the mortgage problems for lenders but apparently the government didn’t see it as a benefit so they were denied that ability.