Northern California foreclosures up 21% in Q2

Silicon Valley / San Jose Business Journal Notice of defaults and trustee sales climbed 21 percent in Northern California during the second quarter compared to the previous quarter, according to a report released Tuesday. Mt. Pleasant, Penn.-based Default Research said the region as a whole had 4.34 percent of households entering some sort of foreclosure -- more than twice the national average. The worst foreclosure numbers in California came from the state capital of Sacramento with 11,470 notice of default and trustee sales in the second quarter of 2008. After Sacramento, the hardest hit cities were Stockton and San Jose. On the flip side, San Francisco was the least affected by the foreclosure crisis with only 601 notice of default and trustee sales in the quarter and only .56 percent of homes entering into some stage of... [read full story]