Calif default notices fall to 3-year low in 2Q

By The Associated Press
Wednesday, July 21, 2010 at 9:38 a.m.

SAN DIEGO — A research firm reports mortgage default notices in California are at their lowest levels in three years after a fifth-straight quarterly decline.

MDA DataQuick said Wednesday there were just over 70,000 default notices filed in California from April through June. That's down nearly 44 percent from more than 124,000 during the same period last year.

The latest tally is down nearly 14 percent from about 81,000 default notices filed from January through March and marks the lowest level since the second quarter of 2007. The peak was in the first quarter of 2009.

The San Diego-based firm says the biggest drops were in less expensive markets, which were hammered by foreclosures in the last two years.

http://www.signonsandiego.com/news/2010 ... low-in-2q/