Cal. foreclosures up 421% from year-ago levels

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Breaking news from Peter Hong of the L.A.Times: ‘A record 31,676 Californians lost their homes to foreclosure in the three months ended Dec. 31, the third-straight quarter of record-breaking foreclosures, records released today show.’

More from DQNews.com: ‘Trustees Deeds recorded, or the actual loss of a home to foreclosure, totaled 31,676 during the fourth quarter. That’s the highest since DataQuick began tracking Trustees Deeds in 1988. Last quarter’s total rose 30.8% from 24,209 in the previous quarter, and jumped 421.2% from 6,078 in fourth quarter 2006. In the last real estate cycle, Trustees Deeds peaked at 15,418 in third quarter 1996. The all-time low was 637 in the second quarter of 2005.

More to come.