Calif. Foreclosure Starts Rise In 2014

SAN DIEGO (AP) — A research firm says California home foreclosure starts increased from January through March after plunging to an eight-year low in the previous quarter.

DataQuick said Tuesday that there were slightly more than 19,200 default notices filed in the first quarter, up 6 percent from the fourth quarter of 2013 and up 4 percent from the same period a year earlier. Figures for the first quarter of 2013 were driven lower by new state laws designed to protect homeowners from losing property.

The San Diego-based research firm says default notices are expected to continue dropping, thanks to an improving economy and higher home prices. California home prices surged to a six-year high last month.

Default notices are the first step in the foreclosure process.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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