California Foreclosure Activity Surged to its Highest Level
72% in Los Angeles County, 111.8% from 2005's Third Quarter
Residential foreclosure activity in California surged to its highest level in more than four years last quarter, the result of slower home sales and flattening prices, a real estate information service reported. Lending institutions sent 26,705 default notices to homeowners in the state during the three-month period ending in September.
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