Chico foreclosures in line with nation

Chico seems to be doing better than the rest of California when it comes to home foreclosures, but it’s right in line with the rest of the country, meaning we’re not immune to the problem either. According to recent data, there were nearly 3,000 foreclosure filings in Chico in the past year. That’s nothing to shrug at. These figures were compiled by First American CoreLogic and represent the periods between June 2007-May 2008 and June 2008-May 2009. An REO rate refers to “real estate owned” by a bank that is returned to the bank after an unsuccessful fore-closure auction.