Foreclosures in California dip in the third quarter
From staff and wire reports
The number of California homes going into foreclosure dropped in the third quarter, according to DataQuick Information Systems.
Lending institutions started foreclosure proceedings on 17,925 homes from July through September, down 1.4% from 18,179 for the second quarter and down 4% from 18,673 for the same three-month period last year, DataQuick said.
Three-fourths of the homeowners in default were able to stop the foreclosure process by bringing their payments up to date or by selling.
