[Update] Local home foreclosures on the rise

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From the Glendale News-Press:

Local home foreclosure rates have continued to rise, led by a baffling eight-fold jump in La Crescenta filings during the month of September, compared with a year ago, according to experts and a report prepared for the Glendale News-Press by real estate tracking firm RealtyTrac.

A total of 133 La Crescenta homes last month entered into foreclosure, up from 55 in August and dwarfing the 16 from a year ago, according to the report.

One in 46 La Crescenta homes were foreclosed upon between July and September, more then triple the national average of one in 136 homes, according to the report.

The average foreclosure rate in California was one in every 53 housing units, the Irvine-based firm said.

Click here for the full story.

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Written by Zain Shauk

October 23, 2009 at 4:01 pm

Posted in glendale

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