The second quarter is looking better for mortgage defaults in california, as they are in decline. Second quarter default notices are down to 124,562 from 135,431 in the first quarter. This is only the first step in the process of forclosure and so it doesn't tell us exactly how many people are losing their homes. While the actual loss of homes has actually increased in the second quarter going from 43,620 to 45,667. Mortgage defaults in the first quarter had predominately been in areas of more affordable housing while this has spread into the wealthier areas. Places least likely to default: San Francisco, Marin and San Mateo. Places most likely to default: Merced, Riverside and Madera. The statistics give mixed sentiments to the direction in which we are heading: mortgage default notices are decreasing while foreclosures are increasing.

Staff writer - tim holborn

Team Member of Real Estate Broker

Ron Holborn