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Until this year, the city of Seattle did well to side-step the sub-prime meltdown that has been wreaking havoc across the country. But the city has not been so fortunate this year, the rate of foreclosures has been steadily increasing, although it is still not as high as in some other cities such as Los Angeles or Las Vegas.
Southern California has seen an increase in the amount of bank owned properties in recent times. Riverside County bank owned homes are also on the increase, as are many other homes in various counties across California. Recent figures dictate that there has been a 92% increase in these since February 2007.
Bank Foreclosure properties are the result of default by barrowers of home loans. As a routine, Banks embark on the mortgage lending business to invest the funds deposited by the customers.
In the latter part of last year the amount of Indiana repo homes increased by 7%. This is not only happening in Indiana, all over the US repo homes are on the increase. Just as an example though there are 31,976 Indiana repo homes listed in Indianapolis.
There is a startling amount of repo homes San Diego County, California. It seems they have spiked dramatically in the past six months. If investing and buying homes, now would be the perfect time to utilize the repo homes San Diego.
