Foreclosure Default Dip to Lowest Levels Since 2006

Foreclosures and mortgage defaults fell during the first half of the year to their lowest levels since 2006, show figures released Tuesday from real estate tracker DataQuick.

The declines come at a time when the county’s home prices have risen to a 5½-year high and mortgage professionals are adjusting to a California law that protects homeowners from potential foreclosure abuses.

Foreclosures totaled 1,489 during the first six months of the year. That’s the the lowest half-year tally for the county since 2006, when 445 foreclosures were counted.

Nearly 3,500 mortgage defaults were filed from January to June. That marks the lowest level of defaults since 2006, when more than 3,300 were recorded.

On a monthly basis, foreclosures are down as well. They dropped 13 percent to 152 in June from the month before. Notices of default in June totaled 654, up 2 percent from the previous month but down 55 percent from the same time a year ago.

read more at: http://www.utsandiego.com/news/2013/jul/23/san-diego-county-foreclosures-mortgage-defaults/

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