New foreclosures triple in Los Angeles area

New foreclosure auctions nearly tripled in the Los Angeles metro area, doubled in Seattle and rose about 60 percent in the New York City and Miami areas in the third quarter compared to the same quarter last year, real estate data company PropertyShark.com reported Thursday. Compared to second-quarter 2008, new foreclosure auctions rose 16 percent in New York City, 9 percent in Los Angeles and 2 percent in Seattle while dropping 5 percent in Miami.

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