The American dream of homeownership is fast becoming California's nightmare as the foreclosure boom threatens to cave in the roofs of many families. And unless there is a shift in reality soon, many residents of Southern California will be losing their homes.

In April, according to data from RealtyTrac, 30,505 foreclosure filings occurred in California. The state had the largest foreclosure total of any state for the fourth month in a row.

In addition, among the nation's metropolitan areas with the 10 highest foreclosure rates, six were in California, including San Bernardino and Riverside counties.

The good news is that the Los Angeles area was far down the foreclosure list at No. 54, perhaps in part because home prices here are holding steady. Foreclosure proceedings in L.A. County numbered 5,690 in April, up 10.4 percent over March. Overall, one in 545 homeowners in the county were facing foreclosure, a much lower ratio than the state as a whole.

Even so, it makes sense to help those who are on the verge of losing their homes. A coalition of more than 100 consumer groups across the state has asked for a time-out, urging six of California's largest mortgage lenders to grant homeowners a reprieve.

And legislation by Assemblyman Ted Lieu, D-Torrance, would offer financial aid to subprime borrowers trying to refinance their homes.

AB 1538's financial assistance takes the form of a trust fund made up of donations from banks and others involved in the lending business. Lieu also supports using funds from a statewide housing proposition passed in November for the trust.

Meantime, the California Reinvestment Coalition has asked lenders to suspend foreclosures on home loans for the next six months. Otherwise, hundreds of thousands of California families could wind up homeless.

More than 80,000 homes in California went into foreclosure in the first quarter. Many of the borrowers who have defaulted had risky subprime loans, and were unable to make the higher payments when their interest rates adjusted higher. And many borrowers have been unable to refinance or sell in the slowing housing market.

California doesn't need to see a crisis where one in every 400 households bites the dust. A temporary halt to defaults and some state financial assistance could protect the economy and buy time for a major restructuring of home loans.

California doesn't need to see a crisis where one in every 400 households bites the dust. A temporary halt to defaults and some state financial assistance could protect the economy and buy time for a major restructuring of home loans.