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House Poor Giving Up Houses

Here's some statistics to brighten your day.

Second-quarter foreclosure activity in the state rose at its fastest pace in at least 14 years, including a 45 percent jump in Los Angeles County, a real estate information service reported Wednesday.

In Orange County, there was an 83.6 percent jump in default notices sent to homeowners over the same quarter last year, according to DataQuick.

In Riverside County, there was a 104 percent jump over the same quarter in 2005.

Troubling, yes? But as the article notes, the foreclosure rate still remains relatively low. And the good news, we suppose, only 7 percent of foreclosures actually result in a person losing their home.
· Foreclosure Activity Rises Across California [cbs2.com]