July 18, 2024

San Diego foreclosures
San Diego foreclosures

Although default notices dropped to their lowest level in more than a year in December, MDA DataQuick reported yesterday, the number of foreclosures rocketed up for December, up 41.9 percent from November and up 20.9 percent from a year earlier.

DataQuick president John Walsh said.“Clearly, many lenders and (loan) servicers have concluded that the traditional foreclosure process isn’t necessarily the best way to process market distress.”

A few insiders feel that even the current bad foreclosure numbers are not really accurate. This is because these insiders believe  lenders aren’t moving as quickly as possible to file formal default notices against delinquent owners inorder to minimize the troubled mortage assets on their books.

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