“Lucrative” Foreclosure Market Means Business for Palomar Enterprises (PLMA.OB)
After hitting a two-year high in March 2007, April foreclosures slipped 1 percent, according to RealtyTrac, an online marketplace for foreclosure properties. In its April 2007 U.S. Foreclosure Market Report, RealtyTrac said for the second month in a row, six out of 10 cities with the highest foreclosure rates were located in California."Whether the decrease in April is the beginning of a similar trend this year remains to be seen, but we expect foreclosure activity to at least stay above last year's levels for the remainder of 2007, fueled by a combustible mix of risky loans taken out in the…