Local Foreclosure Rate Rises

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The rate of foreclosures in the Los Angeles-Long Beach-Glendale area rose in January to 3.79 percent of all outstanding mortgages in the area, up from 2.15 percent a year earlier.

First American CoreLogic, which compiles such data, reported Thursday that the local figure was higher than January's statewide foreclosure rate of 3.75 percent and the national rate of 3.19 percent.

The local mortgage delinquency rate, where the loans were past due at least 90 days, also rose, to 12 percent, up from 7.37 percent a year earlier. By contrast, the California rate was 11.64 percent in January of this year, with the national rate at 8.66 percent.

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This page contains a single entry by Muhammed El-Hasan published on March 4, 2010 10:26 AM.

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About Biz Waves

Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.

The primary contributor is:

Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.

You can email Muhammed at muhammad.el-hasan@dailybreeze.com

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