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County notices of default, trustee deeds drop in May

The county recorded a decrease in notices of default and trustee deeds from April to May, and both figures were down from the previous year.

Notices of default, which initiate the foreclosure process by registering that a borrower is behind in payments, fell 18.8 percent from April to May, and fell 41.3 percent from May 2013 to May 2014, according to the San Diego County Assessor's Office. Lenders issued notices of default to 427 borrowers in May, down from 526 in April and down from 728 in May 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 150 properties in May, 35.9 percent lower than in February and 45.3 percent lower than March 2013.

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