FORECLOSURES FALL

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East County News Service

December 23, 2014 (San Diego)--Fewer San Diego County residents are losing their homes to foreclosure.  From November of last year to November of this year, the number of foreclosures countywide fell 23 percent, according to CoreLogic DataQuick.

The improvement is due in part to property values rising, enabling many homeowners who can’t make their mortgage payments to sell their homes rather than face foreclosure because they’re underwater with a home value lower than the mortgage.  The median home price in San Diego County is now $430,000.

In November only 334 default notices were filed by lenders.  That’s a big drop from June 2008, the worst of the foreclosure crisis, when over 2,000 foreclosures occurred.


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