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America's Hardest-Hit Foreclosure Spots

imirza

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hakrjak

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Everything I've been hearing this week has said that Stockton California is the foreclosure capital of the country right now. Funny how all these articles have a different take.

- Hakrjak
 

Reisteve

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The article refers to pure 3's, not a per household type numerb where Nevada is on top.

As far as counties, yes most of the Central Valley of California is in FC... especially Stockton and Sacramento....

Detroit has always been tough...and with the car manufacturers closing some of the plants, it is pretty bad there...

So in reality, who wants to be number 1 in this category anyway???

Steve
 
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hakrjak

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Yeh Stockton & Sacramento aren't going to recover until the technology business in California recovers. Their boom was largely because of all the folks commuting to the bay area, and looking for a cheaper spot to live. Tech has never fully recovered from the crash of 2000 -- And with no other major industry to supply jobs with high pay, there is nobody to buy these overpriced homes.
:fastlane:

- Hakrjak
 

bigmako

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Are you not forgetting Ventura County?
This is where one of many Countrywide offices (HQ in Calabasas) are located and I'm sure we all remember the financial fiasco they seemed to cause, right?
 

andviv

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Well, I'm sure Russ H will not agree with your statement...
 

andviv

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I've noticed that, usually, those with the real knowledge (i.e. experience) have the capital.
 
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Reisteve

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Are you not forgetting Ventura County?
This is where one of many Countrywide offices (HQ in Calabasas) are located and I'm sure we all remember the financial fiasco they seemed to cause, right?


The numbers in Ventura County are noting compared the balance of California. Sure, they are up... Even stuff in Santa Barbara is being forclosed on and that almost never happened 3 years ago...

Stockton, Sacramento, are horrible....

Countrywide has office all over.. Lancaster LA and Calabasas.. but they also have offices in Plano, Tx.... Countrywide's problem is that it was not diverse enough in spreading out where the balance of their loans were written or where they bought their pools from... IF they had been more diverse, they would have had far less California loans and a wider range across the states... Poor managment... Manzilo, The CEO, talks a line that he was fed from his minions...

Just my thoughts..

Steve
 

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