Saturday, February 18, 2006

Foreclosures Increasing in Califoria

DataQuick News reports that the number of foreclosures in California increased in the last quarter of 2005. Attributing this to lower appreciation rates, DataQuick reports that "Lending institutions sent 14,999 default notices to California homeowners during the October-to-December period. That was up 19.0 percent from 12,606 for the third quarter, and up 15.6 percent from 12,978 for 2004's fourth quarter...Foreclosure activity hit a low during the third quarter of 2004 when 12,145 default notices were recorded. Defaults peaked in 1996's first quarter at 59,897. DataQuick's default statistics go back to 1992."

To read more, go here: Increasing foreclosures in California

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