Friday, August 04, 2006

Mortgage defaults up 67% in California

The number of defaults on mortgage payments rose to a three-year high in the second quarter in California, a 67% increase from the year earlier period, according to DataQuick, a real estate data-compiling firm. Lenders sent 20,752 default notices to homeowners across the Golden State, up 10.5% from 18,778 the previous quarter. I know this will interest my friend living out in California, since he has been looking for a home out there.

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