Home Mortgage Default Notices Move Up
home mortgage defaults
Over 100,000 homes were seized by lenders in September, a record number that may decline in coming months as major banks halt repossessions and review foreclosure practices.
MDA DataQuick said Tuesday there were nearly 83,300 default notices filed in California from July through September.
That’s down about 26 percent from about 111,700 during the same period in 2009.
The latest tally is up about 19 percent from almost 70,100 default notices filed from April through June.
It is sharply lower, however, than the peak of more than 135,400 notices filed when defaults peaked in the first quarter of 2009.
Nevada had the highest foreclosure filing rate for the 16th straight quarter. One in every 29 households got a notice, almost five times the national average. A total of 38,429 Nevada homes received filings, down 20 percent from a year earlier.
Arizona had the second-highest rate for the fifth straight quarter. One in 55 households, three times the national average, got a filing. Florida ranked third with one in 56 households and California was fourth at one in 70, RealtyTrac said.
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