April 30, 2008By The Editor
Realty Trac releases the Q1 2008 U.S. Foreclosure Market Report
Reports released today stated that the Inland Empire had the second highest foreclosure rate in the country.
"...One in every 38 Riverside-San Bernardino households received a foreclosure filing during the quarter - more than five times the national average." stated the report.
Forbes recently reported that homes in Riverside / San Bernardino have dropped in value by 23% because median incomes did not keep up with housing costs. Bank of America is vowing to help Countrywide borrowers that are in danger of being foreclosed by modifying the terms of over $40 billion in problem loans. (Sources: RealtyTrac.com, Forbes.com, & NYTimes.com)
Read the Stories: RealtyTrac.com | Forbes.com | NYTimes.com
The Editor - ChinoHills.com
