Industry NewsMortgage

California foreclosure starts set record

New law bought borrowers time, but Q1 defaults rise sharply
Published on Apr 23, 2009

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by CareyBot

A record number of California homes entered the foreclosure process during the first quarter when their owners defaulted on their mortgages, as the "nastiest batch" of loans made during the housing boom makes its way through the system, MDA DataQuick said.

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