California foreclosures hit 20-year high
Written on July 24, 2008
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 no teletrack payday loans.
Foreclosures increased about 33% from the previous quarter and jumped 261% versus the same quarter last year.
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