Bank of America has reduced its foreclosure filings by 59 percent, said Bloomquist, adding that the

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RIVERSIDE (CBSLA.com) — California has one of the highest foreclosure rates in the nation but overall filings in November reached a low not seen in six years, according to data published by Realty Trac.
Realty Trac, an Irvine-based company that focuses on foreclosures, says new filings in the Inland Empire, Riverside and San Bernardino counties were down 48 percent last month compared to November 2011. Los Angeles County saw a 41 percent decrease during that time period and Orange County filings were down 52 percent.
However, short sales reportedly increased 31 percent in the Inland Empire hotel pennsylvania in the third quarter of the year. Bloomquist said that having short sales on the rise while foreclosures are down indicates the real estate market is still distressed.
Bank of America has reduced its foreclosure filings by 59 percent, said Bloomquist, adding that the Inland Empire has the third highest foreclosure rate in the country, only lower than two areas in Florida.