BANKING & FINANCE - Sept. 9, 1995
<i> Times Staff and Wire Reports</i>
California Home Foreclosures Appear to Stabilize: Mortgage lenders this year are expected to repossess 76,680 houses, up only 0.5% from 1994, according to a forecast by TRW REDI Property Data. Although repossessions remain high and have dragged down real estate prices, the projected increase for 1995 is the lowest since 1990, according to the Anaheim-based real estate information service. The largest increase was reported in 1992, when foreclosures skyrocketed 87% from the previous year, TRW said. On a regional basis, TRW’s 1995 forecast anticipates foreclosures to fall 5.8% in the San Francisco area, remain unchanged in Southern California and rise 19.5% in the Central Valley.
