California Default Notices Drop In Fourth Quarter
LOS ANGELES (AP) — Mortgage default notices in California dropped in the fourth quarter of 2010 to their lowest level in more than three years.
MDA DataQuick said Tuesday that the decrease was a result of improving market conditions, as well as changes in lender and mortgage-servicer foreclosure policies.
The San Diego-based firm says there were around 69,800 default notices filed in California from October through December. That’s down about 18 percent from nearly 84,600 during the same period a year earlier.
The latest tally is also down about 16 percent from almost 83,300 default notices filed from July through September and just over half of the roughly 135,400 notices filed when defaults peaked in the first quarter of 2009.
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