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Home Foreclosures Through The Roof |
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Thursday, 24 April 2008 |
 According to Dataquick Information Systems, there were a record 47,171 California foreclosures in January, February and March. DataQuick is a national company that provides property information and tracks statistics. It is also triple the previous peak during the 1990s downturn, with a total of 15,418 in the third quarter of 1996. The eight-county capital region - Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties - showed 9,505 defaults during January, February and March. All told, this region has seen about 34,000 home loan defaults since the beginning of 2007 - and we are guessing about 15,000 foreclosures. That foreclosures number is still to come from DataQuick. The number of California homes going into foreclosure jumped in the first quarter to its highest level in more than 16 years, as the market continued to work its way through declining home values and a pool of at-risk mortgages originated in 2005 and 2006.
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Last Updated ( Friday, 25 April 2008 )
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