In 2007, Sacramento experienced the fifth highest rate of foreclosure among the nation’s 100 largest jurisdictions. Representing a six-fold increase from the previous year, there were 7,472 foreclosures in Sacramento County or one foreclosure for every 67 households.  In general, foreclosures tend to be concentrated in lower-income and predominantly minority census tracts. In Sacramento County, the communities hit hardest with incidents of foreclosure are North Highlands, the Fruitridge Pocket area, and Rosemont.  As the bulk of high cost or subprime loans with adjustable rate mortgages (ARM) reset in 2008 and 2009, Sacramento’s neighborhoods will continue to experience the negative social and economic impacts of additional foreclosures.

The Sacramento Housing and Redevelopment Agency, working in partnership with City and County staff (Code Enforcement, Neighborhood Services, City Attorney and District Attorney) are working to take strategic action aimed at reducing the rate of foreclosures and minimizing neighborhood impacts. Through proactive and collaborative efforts, the county has the ability to aggressively pursue new resources and take advantage of strategic interventions and opportunities. Our local foreclosure strategy will address 1) preventing additional foreclosures; 2) mitigating community impacts; and 3) asking for help at the federal and state level to do these things.

For more information about the Foreclosure Task Force, contact: Jennifer Bubnes at 916.874.4575 or bubnesj@sacda.org.