LOS ANGELES (AP) -- A real estate research firm says foreclosures in California soared in the second quarter to the highest level in at least 20 years.
DataQuick Information Systems also says in its report Tuesday that the number of default notices sent to homeowners also hit a new level.
DataQuick says some 63,061 homes were lost to foreclosure between April and June - the most in any quarter since 1988, when the firm began tracking foreclosures.
Foreclosures increased about 33% from the previous quarter and jumped 261% versus the same quarter last year.
See Also:
- U.S. home prices drop 4.8% in May - Jul. 22, 2008
- Housing rebound: When to spot one - Jul. 15, 2008
- Hard questions for Fannie, Freddie rescue - Jul. 15, 2008
- Freddie, Fannie shares on wild ride despite government help - Jul. 14, 2008
- Need a mortgage now? Bring loads of cash - Jul. 16, 2008
[Via Home Mortgage Rates and Real Estate News]
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