One in 95 Orange County Homeowners Lost Properties Through Foreclosure

More than 4,500 Orange County homeowners—or one out of every 95—lost their homes to foreclosure from October 2011 to October 2012, according to a CoreLogic report published this week.

Across California, the numbers remained grim with one in 51 homeowners having their mortgages seized by lenders in the 12 month period. The nationwide average is one in 53.

However, the report also found that 3.2 percent of homes nationwide were in foreclosure, down from 3.6 percent in 2011. In California the numbers fell from 2.7 percent to 1.8 percent.

“As a result of completed foreclosures and alternative disposition methods, the foreclosure inventory has declined by 9 percent year-to-date,” said CoreLogic Chief Economist Mark Fleming. “This is good news for housing markets as we look forward to 2013.”

Nationwide, the five states with the highest percentage of homes in foreclosure are Florida, New Jersey, New York, Illinois and Nevada, respectively.

For the full report, click here.

  • Cali Rox

    I knew it was bad – but this makes it seem ridiculous. And if you consider that some of the higher income areas (Newport/Laguna, etc) have much lower rates, there have to be some locations with 1 out of 10 homes in foreclosure.

  • Roger Liles

    That must make for a lot of depressed homeowners. At this rate I wonder how any bars go out of business.