Report: Sacramento 12th-worst for foreclosures - Austin Business Journal:

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Sacramento is the 12th-worst markert for foreclosures inthe state, with 1,391 sales — or about one of everty 1,024 homes. But the activity in foreclosurwe sales in the region is a 20 percent drop from ayear ago, accordinh to . The region had 2,693 notices of default — considered the first step in the foreclosurerprocess — and 1,673 notices of truste sales. Merced, Stanislaus and Yuba counties were the worst in the followed by San Joaquin andRiverside Statewide, foreclosures increased for the third-consecutive evidence that the housing market remains in Foreclosure sales increased 24.
7 percent in June compared to May, a slightlgy smaller increase than the previous two months. Foreclosure sales had jumpedd at least 30 percent in Apriland May, comparedx to the previous Statewide, foreclosure sales in June were 8.2 percent lowed than a year ago. The brisk activity in foreclosures could continue in the late after notices of defaultincreased 11.8 percent to 45,691 filings, the second-highest month on record, accordingg to ForeclosureRadar. June’s notices of defaulg are 10 percent higher than ayear ago. Home lenderes reported mixed resultsin June, possibly because of the Californiw Foreclosure Prevention Act, which extends the noticed of trustee sale by 90 days.
Banks can avoidc the 90-day extension by offering a comprehensive loan-modificatio program to homeowners. Bank of America’s filingas dropped 49 percent last month, whiles CitiMortgage and Downtown Savings’ notices of trustee sales increasefd 69 percent and45 percent, respectively.