OTHER NEWS - April 21, 1993

Foreclosures Surge: Lenders repossessed 10,529 Southern California commercial and residential properties in the first quarter of 1993, up 81% from the 5,826 foreclosures in the fourth quarter of last year, a real estate research firm said. TRW REDI Property Data said foreclosures nearly doubled in Orange County and were up 94% in Los Angeles, 73% in Riverside, 70% in San Bernardino and 43% in San Diego counties. The company said the increases reflect troubles that the housing market and many homeowners were having at the end of last year, because it usually takes four or five months before a lender takes back legal possession.