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Released: September 15, 2011
Foreclosures surge in hardest-hit markets
Source: Alejandro Lazo, L.A.Times (Free Registration)
Significantly more properties entered the foreclosure process during August in the nation's hardest-hit markets, including battered parts of inland California and other areas in the West, as Bank of America Corp. stepped up its activity in states where a court order is not needed to take back a home. Among the states with the highest foreclosure rates, California led the pack in new foreclosure proceedings with an increase of 55% over July, according to data from Irvine-based RealtyTrac. Metro areas in the inland parts of California posted big jumps, with Riverside and San Bernardino counties soaring 68%, Bakersfield 44% and Modesto 57%, the real estate information company said.Read Full Article: Foreclosures surge in hardest-hit markets
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