Nearly 50 San Diego County dwellings per day were lost to foreclosure in April, as the tally of mortgage failures rose 169 percent above last year, DataQuick Information Systems reported yesterday.
Buckling under the weight of risky adjustable-rate loans, many borrowers are giving up on ever bringing their debt current.
April was the county's 37th consecutive month of year-over-year increases in foreclosures and notices of default, the start of the foreclosure process, the DataQuick research firm reported. There were 1,413 residential foreclosures countywide, a 35 percent increase from March but a rise of nearly 170 percent over April 2007.
Read More:http://www.signonsandiego.com/uniontrib/20080522/news_1b22foreclos.html
