Tuesday, January 29, 2008

In 2007, one of every nine Murrieta, California homes entered foreclosure

North County Times reports:
Laura Lovell had a new home to raise her four children and every amenity she could want. But after the housing downturn left her husband unemployed and prevented the sale of their home for more than what they owed, Lovell was caught up in a foreclosure crisis that has swept through this city.

In 2007, one of every nine Murrieta homes entered foreclosure -- more than anywhere else in the county, according to data from RealtyTrac, a foreclosure tracking service, and the Southern California Association of Governments.

"Everyone thinks these foreclosures must be people who just come in, living rent-free for six months," Lovell said. "Who's actually losing their houses is not those people. It's people who bought houses they could afford and had the housing industry take everything."
Great moments in Riverside County,California.