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California Foreclosures Soar in January; 98 Percent of Auctions Lead to REO 

Feb 15, 2008By

As home sales slow to two-decade lows throughout California, foreclosures are soaring — up a staggering 454 percent in January versus foreclosure volume just one year earlier. The number of properties sold at foreclosure auction in the Golden State jumped by 55 percent in January, to a total of 19,821, with a combined loan value of $8.06 billion, according to information service ForeclosureRadar.

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