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Foreclosure Rates Drop by About 30% in Banning, Beaumont in April

A total of 56 mortgage default notices, auction sale notices and bank repossessions were recorded in Banning and Beaumont in April, a real estate tracking firm said.

With Inland Empire foreclosures at pre-recession lows, Riverside County's foreclosure rate dropped to No. 21 statewide in April.

A total 1,403 mortgage default notices, auction sale notices and bank repossessions were recorded in April, meaning 1 in 566 households was in some stage of foreclosure, according to Irvine-based RealtyTrac.

Of those, 19 were from Banning, and 37 were from Beaumont, according to data provided by the organization to Banning-Beaumont Patch.

In Banning:

  • One out of every 781 households received a foreclosure filing in April
  • That number was down 29.6 percent from March 2013, and down 67.8 percent from last April.
  • In April 2012, 59 households had been in default.

In Beaumont:

  • One out of every 206 household received a foreclosure filing in April
  • That number was down 33.9 percent from March 2013, and down 55.3 percent from last April.
  • In April 2012, 81 households had been in default.

Riverside County ranked No. 21 in foreclosure activity in California last month, while neighboring San Bernardino County ranked No. 16.

With the exception of Imperial County, No. 4 on RealtyTrac's list, the remaining top 10 counties were all in Northern California.

In Riverside County, the number of foreclosure filings was down 17 percent from March and down 64 percent compared to a year ago, figures showed.

Nationally, 144,790 properties slipped into foreclosure in April, a 5 percent decline from March and a 23 percent drop compared to a year ago, according to RealtyTrac.

California ranked No. 13 in U.S. foreclosure activity in April, with 16,161 properties going into default, or 1 in 843, according to RealtyTrac. The figure was 13 percent below the number of filings in March and 59 percent less than a year ago.

Nevada had the highest foreclosure rate nationwide, with 1 in 360 households in default last month.

 

–City News Service contributed to this report.

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