By Steve Milne
Thursday, May 09, 2013

(Sacramento, CA) A new report shows California home “foreclosure starts” – or the number of homes just entering the foreclosure process – were up for the third straight month in April.

The increase isn’t a surprise to analyst Daren Blomquist of research firm RealtyTrac.

“It’s what we expected to be honest but it’s something that definitely is a cause for concern.” That’s because those properties getting notices of default will likely be repossessed, says Blomquist.

Analysts aren’t surprised by the increase because they say lenders are picking up the pace of foreclosures now that they’ve had several months to adjust to stricter guidelines under California’s Homeowner Bill of Rights.

More than 8,500 properties received those notices in April…a 13% increase from March.

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