Finance problem.
Finance Problem: Foreclosure activity in California and other
Western housing markets is on the increase in part because high-risk
adjustable-rate loans are beginning to reset to fully amortized payment
schedules, the Los Angeles Daily News reported. During the year's
first three months, all types of foreclosure activity in California
jumped an annual 34 percent, to 28,550 incidents, according to
Sacramento-based property tracker Foreclosures.com. Notices of defaults,
one of three indicators tracked and the first step in the foreclosure
process, increased 37 percent, to 20,515 incidents. And the number of
real estate-owned properties, the final step in the process and
notification that there is a new owner, increased 27 percent, to 1,411.
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