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Article: Foreclosure activity hits highest level in 8 years in state: BUT DEFAULT NOTICE RISE NOT SEEN AS THREAT TO BAY AREA MARKET.
- Article from:
- San Jose Mercury News (San Jose, CA)
- Article date:
- January 25, 2007
CopyrightCOPYRIGHT 2007 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Sue McAllister
Jan. 25--Beset by a statewide slowdown in home price appreciation and rising interest rates, more California homeowners fell behind in paying their mortgages last quarter than at any time since 1998, a real estate information firm said Thursday.
A total of 37,273 homeowners statewide received "notices of default" from their lenders in the October-to-December period last year, according to DataQuick Information Services, which gathered the information from public records. That's up 37 percent compared with the previous quarter, and up 145 percent from the fourth quarter of 2005.
In Santa Clara County, 874 owners got ...