Lenders filed 53,943 Notices of Default (NoDs) during the April-through-June period. That was up 15.4 percent from 46,760 for the previous quarter, and up 158.0 percent from 20,909 for second-quarter 2006, a real estate information service reported.
Last quarter's default level was the highest since 54,045 NoDs were recorded statewide in fourth-quarter 1996." A lot of the loans that went bad last quarter were made at or just beyond the cycle's peak, between summer '05 and summer '06," said Marshall Prentice, DataQuick's president.
On primary mortgages statewide, homeowners were a median five months behind on their payments when the lender started the default process. The borrowers owed a median $11,126 on a median $342,000 mortgage. On lines of credit, homeowners were a median eight months behind on their payments. Borrowers owed a median $3,457 on a median $67,121 credit line. However the amount of the credit line that was actually in use cannot be determined from public records.
Notices of Default
houses and condos
County/Region | 2006Q2 | 2007Q2 | %Chg |
San Francisco | 127 | 257 | 102.4% |
Alameda | 649 | 1,612 | 148.4% |
Contra Costa | 725 | 2,316 | 219.4% |
Santa Clara | 530 | 1,275 | 140.6% |
San Mateo | 222 | 463 | 108.6% |
Marin | 58 | 118 | 103.4% |
Solano | 350 | 1,065 | 204.3% |
Sonoma | 202 | 462 | 128.7% |
Napa | 47 | 128 | 172.3% |
Bay Area | 2,910 | 7,696 | 164.5% |
www.OfficialSonomaCountyHomes.com
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