In Orange County, 806 houses and condos were foreclosed by lenders in the month of July which is down 41% from last year. 

Foreclosures peaking in August 2008 at 1,441 but they have decreased over the last 11 months due to state and federal efforts to prevent foreclosures.  Unfortunately mortgage delinquencies have been climbing which means that foreclosures could begin to rise again soon.  Banks and loan servicers filed 2,968 notices of default in July, the highest total in four months.  Sine NOD’s typically are filed after a borrower misses three of more monthly payments this could be a sign of foreclosures to come as well.