NODs and trustee’s deeds: less depressed but still grim
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38,212 notices of default (NODs) were recorded in California in the fourth quarter (4Q) of 2012. This is a significant 38% drop from one year earlier.
21,127 trustee’s foreclosures sale deeds were recorded in 4Q 2012. This is a dramatic 32% lower than one year ago.
The percentage of NODs resulting in foreclosure dropped to 39%. This is down from 55% one year earlier. This drop is due in part to California’s recently established Homeowner Bill of Rights, which regulates the foreclosure process.
Among California’s largest counties, the greatest one-year drops in foreclosure sales took place in San Francisco (-51%), Alameda (-48%), Orange (-38%) and San Diego (-37%) counties. Click here for the most recent quarter’s NOD and foreclosure numbers.
Looking forward, the number of NODs and Trustees Deeds will slip until interest rates rise, likely in 2015. Expect an increase going into 2017, then a rapid decline as prices lift many homeowners into positive equity.
The rest of this content is only available to first tuesday Members. If you are a current first tuesday Member, please login above. To sign up, visit firsttuesday.us! is the writing staff comprised of legal editor Fred Crane, In-House Broker Consultant Fernando Nunez and writer-editors Connor P. Wallmark, Giang Hoang-Burdette, Jeffery Marino, Carrie B. Reyes, Sarah Cantino, Matthew Taylor, Matthew Shade and Nicole Jessen.End of free preview
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![NODs-TDs4[1]](http://firsttuesdayjournal.com/wp-content/uploads/NODs-TDs41-106x75.jpg)
Sir, most of your links don’t go any where. please fix them. also the link of your Email’ News Letter.
I enjoy your emails
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At the risk of sounding like a rabble-rouser, WHEN are homeowners planning to react to this current crisis by refusing to make payments until something is done?? If only half of all US homeowners simply withheld payments until this mess is fixed, it definitely would be fixed in a week or two. This problem is being prolonged, not because of its complexity, but because the banks and the govt’s are so intransigent and refuse to listen to the people who own the properties, and also because the homeowners are not unified. Time for a “payment strike…”
Steve Bradley
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START…… FHA-VA-Freddie-Fannie-Streeam-lines’ like in 80 with no Quals’ and rate at 2%
And economy will turn around and conumers will Buy and HELO = America
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Cram it down the Bankers throat as they would do to You
As Jesus , say do unto others as they would to YOU …..Hello Your next —So, be careful what You say !!!!
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