Friday, October 05, 2007

San Fernando Valley Notice of Default Update September & Year to Date 2007

The chart below outlines the specific January '07 Notice of Default (NOD) filings, and September '07 NOD filings for each city. I've also included the Year to Date (YTD) 2007 filings so you can get an idea on where the Notice of Default market is headed. Based on what I can see from this chart, I belive the number of homes in Default will double by the end of the year compared to the beginning of the year. Some areas only experienced a slight increase while other like Northrige will more than double. A Notice of Default is usually filed when the homeowner has not made a payment to their mortgage company for the past 3-4 months.

Source: Default Research, Inc.

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