Tuesday, January 25, 2011

Another Decline in California Foreclosure Activity - TheStreet

Another Decline in California Foreclosure Activity - TheStreet: "La Jolla, CA (DQ News) -- The number of California homes going into foreclosure dropped again during the fourth quarter of 2010 to its lowest level in more than three years, the result of shifting market conditions as well as evolving lender and mortgage servicer policies, a real estate information service reported.

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A total of 69,799 Notices of Default (NoDs) were recorded at county recorders offices during the October-to-December period. That was down 16.2% from 83,261 for the prior quarter, and down 17.5% from 84,568 in fourth quarter 2009, according to San Diego-based DataQuick Information Systems.

Last quarter's activity was the lowest since 53,943 NoDs were recorded in the second quarter of 2007. It was just over half the record 135,431 default notices recorded in the first quarter of 2009."

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