California Is Number One … In Foreclosures
Lucky you if you don't own property in the Golden State
Foreclosure activity kept up its uneven descent in July, and a hammerlock grip on California and the Inland Empire, according to statistics released by the real estate information service RealtyTrac.
California retained its No. 1 rank in foreclosures for the second consecutive month, with 19,210 notices of default recorded on houses and condos during July, despite an 11 percent decrease in foreclosure activity from June and a 25 percent decrease from one year ago.