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Foreclosures reach new high
| Tuesday, Mar 4 2008 12:26 PM
Last Updated: Tuesday, Mar 4 2008 12:49 PM
Foreclosures reached another new high in Kern last month, according to the latest report from the Kern County Recorder’s office.
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The monthly tally shows 586 properties foreclosed in February, up from 512 the previous month and 107 in February 2007.
Default notices, meanwhile, arrived at a steady pace despite the short month, with 1,177 recorded. That’s just two more than January’s count, but more than double the 502 sent out a year ago.
Property transfers, loan originations and mortgages paid off increased slightly in February from the previous month — all numbers were in the 2,000 to 2,500 range — but dropped from a year ago, when those numbers ranged roughly between 3,800 and 5,500.