HOUSING: Foreclosures high in April, no end in sight

http://www.nctimes.com/articles/2009/05/13/business/z2bbf806254193f23882575b400602987.txt

The number of homes entering foreclosure in North County during April was the second highest on record since the real estate market began to nose-dive in 2005, according to a report released Tuesday.

The 1,304 homes to enter foreclosure last month in North County were down slightly from the high of 1,484 defaults set in March, according to ForeclosureRadar, a Northern California data tracking firm.

In Southwest Riverside County, the story was similar but the numbers were larger. The region from Temecula to Lake Elsinore saw 1,366 default notices last month, down from March but still one of the highest since the real estate market collapsed.

 

http://www.nctimes.com/articles/2009/05/15/business/z055bd97619c7cf66882575ac0077d242.txt

Delinquency rates in the Riverside-San Bernardino metro area hit a staggering 15.7 percent ---- meaning borrowers on roughly one out of every six mortgages were at least 90 days late on their payments, according to the report by First American CoreLogic, a Santa Ana research firm.

In San Diego County, 7.2 percent of all borrowers, roughly one of every 14 mortgages, were behind on their payments.

Meanwhile, the portion of mortgages in some stage of foreclosure was 4.1 percent in Riverside-San Bernardino counties and 1.9 percent in San Diego County.