California Foreclosures Hit New Quarterly Record: 16,683

The number of homeowners losing their house to foreclosure shot to a new record of 31,676 in the last quarter of 2007, Los Angeles Times reports. Research firm DataQuick says that 41% of homeowners currently in default can keep their homes if they bring their payments current, refinance, or sell their home, down from 71% the year prior. Hey, at least it’s sunny.

Pain goes through the roof [Los Angeles Times] (Thanks to Nicole!)