News Column

BRIEF: Valley foreclosures continue to decline

July 23, 2014

By J.N. Sbranti, The Modesto Bee



July 23--The number of foreclosures has continued declining throughout the Northern San Joaquin Valley.

This April, May and June, 170 Stanislaus County homes were lost to foreclosure, 26.7 percent less than the spring of 2013, according to DataQuick.

At the peak of the foreclosure crisis during the summer of 2008, more than 2,800 Stanislaus homes were repossessed by lenders in just three months.

Foreclosures statewide have returned to prerecession levels.

In Merced County, 79 homes were repossessed this spring, 11.2 percent less than during the same months last year. In summer 2008, 1,639 Merced homes were lost.

In San Joaquin County, 203 homes were foreclosed this spring, a 30.5 percent decline. During summer 2008, 3,862 San Joaquin homes were lost.

Since the foreclosure crisis began in 2006, mortgage defaults have led to repossession of nearly 85,000 Northern San Joaquin Valley homes.

Bee staff writer J.N. Sbranti can be reached at jnsbranti@modbee.com or (209) 578-2196.

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(c)2014 The Modesto Bee (Modesto, Calif.)

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Source: Modesto Bee (CA)


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