Home Foreclosures Pushed Bankruptcies in Central Valley
Home foreclosures and job losses pushed bankruptcy rates to their highest levels in Central Valley counties in California. Nearly 46,000 bankruptcies were filed in courts in Sacramento, Modesto and Fresno.
Home foreclosures helped drove bankruptcies in the Central Valley region of California in 2009, based on data from the U.S. Bankruptcy Court.
Last year, bankruptcy filings soared by almost 50 percent compared to filings in 2008, rising to their highest level reached in the region.
A total of 45,924 bankruptcies were filed in federal courthouses in Sacramento, Modesto and Fresno, with Sacramento posting the highest number – almost 29,000 filings.
By Cassiano Travareli