Foreclosures on the decline in Riverside County
With Inland Empire foreclosures at pre-recession lows, Riverside County's foreclosure rate dropped to No. 21 statewide in April.
A total 1,403 mortgage default notices, auction sale notices and bank repossessions were recorded in April, meaning 1 in 566 households was in some stage of foreclosure, according to Irvine-based RealtyTrac.
Riverside County ranked No. 21 in foreclosure activity in California last month, while neighboring San Bernardino County ranked No. 16.
With the exception of Imperial County, No. 4 on RealtyTrac's list, the remaining top 10 counties were all in Northern California.
In Riverside County, the number of foreclosure filings was down 17 percent from March and down 64 percent compared to a year ago, figures showed.
Nationally, 144,790 properties slipped into foreclosure in April, a 5 percent decline from March and a 23 percent drop compared to a year ago, according to RealtyTrac.
California ranked No. 13 in U.S. foreclosure activity in April, with 16,161 properties going into default, or 1 in 843, according to RealtyTrac. The figure was 13 percent below the number of filings in March and 59 percent less than a year ago.
Nevada had the highest foreclosure rate nationwide, with 1 in 360 households in default last month.
Copyright 2014 City News Service. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.