Foreclosure Activity Increases 8% - How Asian American and Pacific Islanders are Coping

From the RealtyTrac Release: The Cape Coral-Fort Myers, Fla., metro area registered the highest foreclosure rate among the 230 metro areas tracked in the July report. One in every 64 households in the metro area received a foreclosure filing during the month — more than seven times the national average.

Three California cities followed in the metro foreclosure rate rankings: Merced was at No. 2 with one in every 73 households receiving a foreclosure filing; and Stockton and Modesto were in a virtual tie, each with one in every 82 households receiving a foreclosure filing.

With one in every 85 households receiving a foreclosure filing, the Las Vegas metro area’s foreclosure rate ranked No. 5, followed by three more California metros: Riverside-San Bernardino, Bakersfield and Vallejo- Fairfield.

Fort Lauderdale, Fla., documented the ninth highest metro foreclosure rate, and the foreclosure rate in Phoenix took the No. 10 spot.

Asian American Populations By City:

• Cape Coral – Fort Myers: ~ 6,000
• Merced: ~ 15,000
• Stockton: ~ 66,000
• Modesto: ~ 15,000
• Las Vegas: ~ 35,000
• Riverside-San Bernardino: ~ 235,000
• Bakersfield: ~ 20,000
• Vallejo-Fairfield: ~ 52,000
• Fort Lauderdale: ~ 3,000
• Phoenix: ~ 35,000

Click here to view the original article:

http://nationalcapacd.org/news/releases/2008/aug/2008-08-16.pdf