About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

The number of homeowners in default (more than 30 days late) on their mortgage payments dipped in California in the first quarter of this year. Here are some bits from the AP story on the subject:

Mortgage default notices for California homeowners fell 4 percent in the first quarter of the year, another sign that foreclosures could be easing in lower-cost areas, a research firm said Tuesday.

County officials recorded 81,054 notices of default — the first step in the formal foreclosure process — during the January-to-March period, according to San Diego-based MDA DataQuick.

The number is down from 84,568 default notices in the fourth quarter of 2009 and 135,431 in the first quarter of 2009, when the filings peaked. …

Though fewer homes are entering the formal foreclosure process, financial distress among California homeowners remained high. However, more lenders are modifying home loans or allowing short sales in which lenders agree to accept less than what a homeowner owes on the mortgage

Comments (1) Posted by G.R.A. Admin on Wednesday, April 21st, 2010


You can follow any responses to this entry through the magic of "RSS 2.0" and leave a trackback from your own site.

One Response to “Number of mortgage defaults dips in California”

Post A Comment