For the third consecutive quarter, California foreclosure starts remained little changed at a level last seen in early 2006, the result of steady economic growth and higher home values. Foreclosure processors are still mostly plowing through a pool of toxic sub-prime mortgages originated back in mid-to-late 2006, according to San Diego-based DataQuick. Lenders and their servicers recorded 19,215 Notices of Default (NoDs) on California house and condo owners during this year’s first quarter, which runs January through March.Click to continue
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