Trouble in The (Antelope) Valley

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We report on a lot of not-very-pretty foreclosure news from the Antelope Valley, so this time we chose a nice image of the Valley. It’s beautiful out there when the wildflowers bloom. Not so beautiful when the defaults bloom into foreclosures.

That said, this update from The Antelope Valley Press: 151 Palmdale properties are in foreclosure and scheduled to be auctioned on the courthouse steps; banks and lenders own another 561 properties they’ve foreclosed on; and 1,000 properties are in ‘preforeclosure’ (owners are behind in payments, but no Notice of Default yet).

And neighboring Lancaster: RealtyTrac lists 1,046 properties in preforeclosure, 186 at auction and 620 bank-owned.

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