California Has Nation's 2nd Highest Foreclosure Rate in August

Foreclosure filings -- default notices, auction sale notices and bank repossessions -- were reported on 303,879 U.S. properties during August, a 12 percent increase from the previous month and a 27 percent increase from August 2007, according to a report released Friday. The report from Irvine-based RealtyTrac also shows one in every 416 U.S. households received a foreclosure filing during the month.

For the rest of the story, visit Silicon Valley/San Jose Business Journal (www.bizjournals.com)