The number of California homeowners entering the foreclosure process plunged to the lowest level in more than seven years last quarter. The unusually sharp drop in the number of mortgage default notices filed by lenders stems mainly from rising home values, a strengthening economy and government efforts to reduce foreclosures, a real estate information service reported. During first-quarter 2013 lenders recorded 18,567 Notices of Default (NoDs) on California houses and condos.Click to continue
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