What are the largest foreclosure markets in California?

Answer:
California holds six of the top twelve
metropolitan foreclosure markets in the country.  A foreclosure occurs when the lender (typically a bank) takes the property back from the mortgage-holder.  This happens when the mortgage-holder is no longer paying the mortgage.

As of July, 2008, Merced held the number one foreclosure spot for California.  In Merced, one out of every seventy-three homes was in the process of foreclosure.  Stockton, California, took the number two spot.  This was an improvement over a year before, when Stockton led the country in foreclosures with one out of every twenty-seven homes in foreclosure.  As of July, Stockton had one out of every eighty-two homes in foreclosure.

The rest of the six are Modesto, Riverside/San Bernardino, Bakersfield, and Vallejo-Fairfield.  The market is struggling to recover throughout California, though the ocean-front areas will probably remain strong and desirable regardless.
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