Economic Report: California Home Foreclosures Hit 10-Year High - 07/24/08
Submitted by Doug Cunningham on July 23, 2008 - 5:38pm
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California home foreclosures hit a 10-year high in the second quarter. More than 63,000 homes were foreclosed on in the state; that's an increase of 33.5 percent since the first quarter. Year over year, the increase is 261 percent. Default notices for mortgages were also up substantially, hitting a record increase of 125 percent over the previous year.
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