• News
  • Real Estate

SD notices of default, trustee deeds increase slightly in March

The county recorded an increase in trustee deeds and notices of default in March from February, but both figures are still down from last year.

Notices of default, which initiate the foreclosure process by registering that a borrower is behind in payments, increased 3.6 percent from February to March, and fell 26 percent from March 2013 to March 2014, according to the San Diego County Assessor's Office. Lenders issued notices of default to 495 borrowers in March, up from 478 in February and down from 669 in March 2013.

Trustee deeds — the final step in the foreclosure process, transferring ownership from the delinquent borrower back to the lender or a third party — were filed on 175 properties in March, 5.4 percent higher than in February and 45.3 percent lower than March 2013.

User Response
0 UserComments