Monday, December 15, 2008
Property foreclosures in Riverside County continued to decline last month. There have been a total of 6,833 mortgage default notices, auction sale notices and bank repossessions in riverside country in November. Riverside County has moved to sixth position in the foreclosure activity this month. San Bernardino County is having the fifth highest foreclosure activity in the state. California is placed under 4th position in foreclosure activity. It had nearly 60,491 filings last month - a 51 percent increase from a year ago. The top foreclosure volume leader is Nevada followed by Florida and Arizona. Saccacio pointed to a 7 percent jump in pre-foreclosure delinquencies in the third quarter. Half of the homeowners granted reduced mortgage payment terms in the first half of the year had slipped back into delinquency. Nearly 1 in 107 households in Riverside county slipped into some stage of foreclosure last month, compared to 1 in 160 in November 2007, according to a survey.
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