Santa Clarita Foreclosures: Top 20 Zip Codes for Los Angeles County Foreclosures Once Again Excludes the Santa Clarita Area

Santa Clarita continues to have low foreclosure numbers compared to the rest of Los Angeles County for November 2007.

Palmdale and Lancaster have maintained their top positions on the Los Angeles County foreclosure list, with zip codes 93550 and 93535 showing the highest the number of new Trustee Sales in Los Angeles County for November 2007 according to Property Shark with 81 Trustee Sales each. In contrast, Santa Clarita has only 3 foreclosure auctions scheduled for December 2007 so far.

The average owed per these foreclosure data sources can be misleading, since often this includes only the mortgage being foreclosured upon (most likely the first), while often there are large second mortgages and possibly thrid and fourth mortgages being written off as well. Note that virtually all of the average amounts owed are below the $417,000 FHA loan limit.

Keep in mind that many foreclosures are the result of overindulgent lifestyles rather than "toxic loans" that reset after the intro rates expired. It seems as though foreclosure has become "no big deal" to many homeowners, who feel that they can just "walk away" from their homes after refinancing them to the max, often with up to four mortgages on a single property, so that is definitely having an impact on the overall foreclosure numbers.

Property Shark’s Hot Zone report for November 2007 vs 3rd quarter 2007 (3 months) is below. These are the 20 zip codes in Los Angeles County with the highest number of foreclosures for this time period.

There were a total of 746 homes scheduled for foreclosure auction in November 2007, as compared to 1,614 homes scheduled for auction for the quarter ending September 30, 2007, which shows an overall increase in foreclosure activity. New to the Hot List this month are Compton and Altadena.

The zip codes with NA instead of numbers did not make the Top 20 list for that time period.