Los Angeles County's list of top 20 zip codes for third quarter 2007 foreclosures does not include any Santa Clarita areas.

Once again, Santa Clarita has avoided being part of the Foreclosure Hot List, according to reports for the quarter ending September 30, 2007.

Palmdale and Lancaster continue to top the Los Angeles County foreclosure list, with the number of new Trustee Sales hitting a whopping 727 in only the "hot zones" included in the Top 20 list county-wide for the third quarter of 2007 according to Property Shark.

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 being written off as well.

It seems as though foreclosure has become "no big deal" to many homeowners, who feel that refusing to pay the mortgage and essentially living rent-free for several months is a viable alternative to either selling their homes on the open market or any other financial remedies that may be available to them, including bankruptcy. The "stigma" of having a home foreclosed upon has seemingly gone by the wayside in this crazy real estate market that we find ourselves in.

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

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