Valley foreclosures continue to rise

Foreclosures in the San Fernando Valley ballooned to a record level in the third quarter, pounding down prices but driving a huge jump in September sales, according to a report released today.Gregory J. Wilcox in the Daily News.

Foreclosures soared 203 percent from July through September compared to a year earlier, as 2,589 local families lost their homes in the market collapse, according to the San Fernando Valley Economic Research Center.