Riverside County Leading in Foreclosures For First Half of Year

Riverside County had the fourth-highest foreclosure rate in the state during the first six months of 2012, a real estate tracking firm reported today.

A total 21,048 mortgage default notices, auction sale notices and bank
repossessions were recorded countywide between January and June, translating to 1 in 38 households in some stage of foreclosure, according to Irvine-based
RealtyTrac.

The number of filings was 9 percent less than the total recorded in the last half of 2011 and 19 percent below the first six months of last year, data showed.

Yuba County had the highest foreclosure rate in the state, with 1 in 37
households in default during the most recent six-month period.

For the month of June, Riverside County ranked fifth in foreclosure activity statewide, with 1 in 166 households faced with repossession. On a quarterly basis, the county was No. 2 in foreclosures, just behind San Joaquin County, which had 1 in 66 households in default.

The second-quarter figures showed Riverside County had 12,081 properties
in some stage of foreclosure -- 6 percent less than the first quarter of 2012
and 15 percent less than the second quarter of 2011.

Nationally, just over a million properties went into foreclosure in the first half of the year, a 2 percent increase compared to the last half of 2011, but 11 percent less than the same period a year ago, according to figures.

California ranked No. 4 in the nation in foreclosure volume between January and June with 213,988 filings. The figure was 13 percent below the tally from July-December 2011 and 19 percent lower than the first half of last year, according to RealtyTrac. One in 64 households were in default statewide.

Nevada had the highest foreclosure rate in the country, with 1 in 57 households delinquent on their loans.