California foreclosure starts set record

New law bought borrowers time, but Q1 defaults rise sharply

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

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.