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Wednesday, Oct 4, 2023

California home foreclosures hit a record

Sinking home values and the collapse of flimsy mortgages fueled a record number of foreclosures in California in the first three months of this year, dimming prospects for any quick recovery in the housing market. The number of homes lost to foreclosure rose to a record 47,171, more than four times as many as a year earlier. Default notices — the first step toward foreclosure — were sent to owners of 110,000 California homes from Jan. 1 to March 31, according to La Jolla- based DataQuick Information Systems. That’s about 1.4% of the homes in the state. For the full story visit http://www.latimes.com/business/la-fi-foreclose23apr23,1,1517773.story

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