clock menu more-arrow no yes mobile

Filed under:

Defaults Spiked in December

New, 39 comments

Following a look at LA County foreclosures, here's a look at default information for the whole state. Via blog LA Land: "California mortgage defaults in December were double their November level, the website reported [yesterday]. There were 42,421 notices of default issued by lenders in December, ForeclosureRadar said. Notices of default represent the first stage in the foreclosure process, when a lender cites a mortgage holder for missing multiple payments...The number of NODs had dropped in the fall, after the July passage of Senate Bill 1137, which required lenders to contact homeowners before beginning the foreclosure process." [LA LAnd]