More Foreclosures in San Marcos - Over $190K Loss

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Summary:

Just got back from San Diego over the Holidays and one thing is for sure, people are in a panic mode. The foreclosure rate has more than tripled from last year and there are no signs of the pace slowing. This home has never been lived in yet the owner clearly purchased it with flipping on his mind. This will not work anymore so he is poised to take a -$190K hair cut!