IE Business Daily Business news for the Inland Empire.
The Inland Empire’s foreclosure crisis is going away, but it’s not over yet.
Riverside and San Bernardino counties recorded more than 2,000 foreclosures every month during 2014 and during the first three months of 2015, according to a report in The Press-Enterprise.
More than 2,300 such filings were recorded in March.
Those figures include notices of mortgage default, trustee’s sales and lender “take-backs” filed against houses in Riverside and San Bernardino counties, according to the report, which cited RealtyTrac as its source.
In its March report, RealtyTrac found that 480 of those filings included a notice of bank repossession, while 1,050 filings were initial notices of default. The latter is the first step in the foreclosure process.
The remaining notices involved a bank auction or a trustees sale. Foreclosure notices in the Inland region were down 14.5 percent during the first three months of this year compared with the first quarter of 2014, the report stated.
