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Temecula CA “Notices of Default” & “Notice of Sale” Year to Date Report for 2011 to 2012
Below is a chart showing the past years foreclosure activity here in Temecula CA.
Here is what I see.
NOD’s (green line) Notices of default in Temecula have been showing a steady decline from 148 homes a year ago to just 71 homes a year later. A 52% decrease. Yet the Notices of Sale (NOS) in blue remain almost the same,only a 6% change.
So even though the numbers show less Temecula homeowners going into default the banks are not slowing down on the amount of Temecula homes that they are taking to sale/foreclosure. 87 last year to 81 this year.
Banks will normally post and mail out the Notice of Default after 4 months of missed payments. If the default is not cured by the homeowner it is followed up by the Notice of Sale. Before the notice of sale a Temecula homeowner has many options including a short sale.