After taking a break for the holidays, foreclosures spiked in Santa Clara and San Mateo counties in January.
Despite efforts by the federal government and lenders to help people stay in their homes, foreclosures rose 37 percent in Santa Clara County last month from December, and 71 percent in San Mateo County, according to a report Tuesday from ForeclosureRadar.
In another sign that housing woes are far from over, more homes are lingering in the foreclosure process: Homes that were repossessed by lenders in Santa Clara County in January had been in foreclosure for an average of 221 days, or more than seven months. In August 2008, banks took an average of 143 days to foreclose, less than five months.
Just what the drawn-out process signals is up for debate.
