California Foreclosures Go Up in July

Foreclosures in California crept up just a bit in July, but remained down substantially over July 2011.

The number of California homes entering foreclosure creeped up in July, a new report shows, but in Southern California they were up sharply in the Inland Empire counties of San Bernardino and Riverside.

ForeclosureRadar.com showed that the number of default notices statewide was essentially flat from June, up 1.4% month-over-month, but rose 12.3% from July 2011.

Statewide the number of homes that went back to banks was up 10.4% from the prior month and down 54.2% from the same month a year earlier. Meanwhile, the number of properties sold to a third party was up 10.6% from the prior month and down 6.6% from the same month a year earlier.

The number of foreclosed homes selling on the California market has also been dwindling.

The number of default notices ramped up in San Bernardino County last month. Notices of default were up 13.5% from the prior month and 31.2% from July 2011 in San Bernardino County.

In neighborhing Riverside County, default notices were flat from the prior month, up 0.7%, but increased 21.7% from the same month a year earlier.

In Los Angeles County, the number of default notices increased 3.0% from the prior month and up 18.1% from July 2011.