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IRVINE, CA-Six out of the 10 cities with the nation's highest metro foreclosure rates in March were located in California, according to a new report by RealtyTrac. The monthly report by the Irvine-based company showed that foreclosures rose 47% nationwide in March on a year-to-year basis and were up 7% nationally over February's numbers.
At the top of the list of California and US cities was Stockton, with a 137% spike in foreclosure activity that boosted its rate to one foreclosure filing for every 128 households, the highest metro foreclosure rate in the nation. Other California cities with foreclosure rates in the top 10 included Vallejo-Fairfield, Modesto, Sacramento, Riverside-San Bernardino and Bakersfield.
California was one of three western states that showed significant increases in foreclosures in the latest monthly report by RealtyTrac, with Nevada and Colorado also posting higher rates. Nevada's foreclosure activity increased 29% from the previous month, marking the third month in a row that Nevada registered the nation's highest state foreclosure rate.
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