L.A. foreclosures nearly triple year-ago levels
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The chart above, from Property Shark, shows the level of new foreclosures in Los Angeles County in the third quarter is nearly triple the year-ago level.
Other highlights from Property Shark’s report:
‘New foreclosures in Los Angeles continue their two-year ascending trend in the third quarter of 2008, increasing 9% compared to the previous quarter (14,505) and up by 196% compared to Q3 2007 (5,322).’ ‘During Q3 2008, Countrywide Home Loans was scheduled to foreclose on the most homes in Los Angeles County, followed by Washington Mutual.’
‘In Los Angeles, zip codes from Palmdale/Lancaster, as well as the San Fernando Valley District of Sylmar, continue to top the list.The foreclosure rate per household remains high in these areas with one in every 45 homes in foreclosure in 93550, and one in every 46 homes in foreclosure in 93535.’
-- Peter Viles
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