According to First American CoreLogic one in ten Californian’s with a home loan are now in default, this means they have missed several payments are close to facing foreclosure. As a result of the rise of defaults experts believe there will be a number of foreclosures in the near future  as un-employment rates continue to increase. This figure brings the default rates up to 9.5%, a year ago it was only 6%.

This entry was posted on Friday, July 31st, 2009 at 12:37 pm and is filed under Foreclosure. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.