Foreclosure repossessions in California increased 22.24% from September to October, according to data released by ForeclosureRadar.com.
Last month’s foreclosures increased 20.95% from October 2008. October’s foreclosures were 42.56% below California’s peak month of July 2008, but since then, the inventory of real estate owned (REO) properties has grown 131.36% in California.
“While we continue to see a steady stream of properties entering foreclosure, relatively few are completing the process and being sold at auction despite the increase this month,”
{ 1 comment… read it below or add one }
“October’s foreclosures were 42.56% below California’s peak month of July 2008, but since then, the inventory of real estate owned (REO) properties has grown 131.36% in California.”
_______________________
Wow, sure glad california shutdown all those modification companies. Just like the zero tolerance policy in schools, our leaders didn’t bother to sort out the good guys or the bad guys, just shut them all down, and nothing gets resolved.
Nice job.