Eds: Jennifer von Pohlmann, RealtyTrac PR, can be reached at (949) 502- 8300, ext. 139; RealtyTrac analyst Darren Blomquist is at (949) 502-8300, ext. 115.
RIVERSIDE (CNS) – Riverside County had the second-highest foreclosure rate in the state last month, a real estate tracking firm reported today.
A total 3,226 mortgage default notices, auction sale notices and bank repossessions were recorded countywide in November, translating to 1 in 248 households in some stage of foreclosure, according to Irvine-based RealtyTrac.
The number of filings was 18 percent less than the previous month and 46 percent below the year-ago level, figures showed.
Lassen County was No. 1, with 1 in 244 households in default; San Bernardino County was just behind Riverside, with 1 in 249; San Joaquin County ranked No. 4, with 1 in 265; and Yuba County was No. 5, with 1 in 266.
Nationally, 180,817 properties slipped into foreclosure in November, according to RealtyTrac. The activity represented a 3 percent drop from October and a 19 percent decline from November 2011.
”The drop in overall foreclosure activity … was caused largely by a 71-month low in foreclosure starts for the month — more evidence that we are past the worst of the foreclosure problem brought about by the housing bubble bursting,” said RealtyTrac Vice President Daren Blomquist.