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Mar. 6--The number of borrowers in default on their loans for houses and condominiums in California edged up to its highest level in nine months in January, according to a real estate information service.
Foreclosure proceedings - known as Notices of Default - were initiated on 10,851 homeowners in January, up 5.9 percent from 10,244 in December and up 4.0 percent from 10,431 for January 1994, Dataquick Information Systems of La Jolla reported.
Dataquick monitors all real estate purchasing, financing and foreclosure activity in California and other states. The company provides information to consumers, lending institutions, title companies and industry analysts. …