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California

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Calif. Foreclosures Reach Highest Level in Fifteen Years 

Jan 22, 2008By

The number of mortgage default notices filed against California homeowners jumped to its highest level in more than fifteen years during the fourth quarter of 2007, a real estate information service reported Tuesday. Lending institutions sent homeowners 81,550 default notices during the October-to-December period. That was up by 12.4 percent from 72,571 the previous quarter, and up 114.6 percent from 37,994 for fourth-quarter 2006, according to DataQuick Information Systems.

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