I received this email from CVBT, scary information but I thought I would pass it on.

As bad as the mortgage foreclosure problem is in the Central Valley and the rest of California, expect it to get worse, says a company that deals in foreclosure information.

The state saw a 300 percent increase in foreclosures in August, compared to the same time last year, according to figures compiled by Default Research Inc., of Mt. Pleasant, Pa.

But Josh Chernikoff, vice president of communications for the company, says August is expected to be a precursor to even tougher times ahead.

(Mr. Chernikoff explains his company's outlook in a CVBT Audio Interview. Please click on the link below to listen or to download to your MP3 player.)

As reported last week by Default Research, Central Valley mortgage foreclosure rates are among the worst in the nation. San Joaquin County reported 873 default notices filed in August, compared to none a year earlier.

Sacramento County, which had reported a single notice of default in August 2006, reported 1,992 filings last month. Fresno County saw 695 foreclosure notices in August, compared to 240 in August 2006.

Kern County reported 911 foreclosure notices in August, compared to 238 a year earlier.

Tulare County had 249 filings in August. In August of last year just 26 notices of default were filed.

Stanislaus County, which had 138 default filings in August 2006, had 422 in August 2007.