Housing distress eases in November
Fewer foreclosures, defaults in county
By Roger Showley, UNION-TRIBUNE STAFF WRITER
Tuesday, December 22, 2009 at 12:01 a.m.
Housing distress in San Diego County eased in November, as lenders posted fewer foreclosures and default notices, MDA DataQuick reported yesterday.
There were 1,068 foreclosures last month, down 11.2 percent from October and the lowest since May. The figure was up 2.2 percent from a year ago, when the state required extra time be given to owners in distress. The high point of foreclosures was 2,004 in July 2008.
Notices of default, the first step on the way to foreclosure, numbered 2,122, down 16.3 percent from October but up 53.9 percent from 2008 numbers, also reflective of the state noticing requirements. Defaults rose as high as 3,832 in March as lenders dealt with a backlog of troubled loans.