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Inland foreclosure data lift hopes -

Published on Wednesday, January 27, 2010
By LESLIE BERKMAN


With most subprime mortgage failures played out, it is possible that the worst of the foreclosures is over for lower-priced housing regions like Inland Southern California, a real estate research company said Wednesday.

MDA DataQuick released a report that showed a continuing quarter-to-quarter decline last year in homes entering the foreclosure process in California and Riverside and San Bernardino counties.

However the report also noted that foreclosures could remain at historically high levels in the Inland region and are already slowly spreading into more expensive neighborhoods.

DataQuick Spokesman Andrew LePage said the cause of mortgage failures is shifting from subprime mortgages to job loss in a weak economy and other kinds of risky mortgages to generally wealthier homeowners who will reset to higher monthly payments over the next two years   Read Full Article...

 
 

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