Foreclosure Update
The number of notices of default (NOD) dropped by 58% from August 08 to September 08. This drastic decline in NOD reflects the government’s effort to require lenders to work with distressed borrowers. Lenders are offering better terms to existing borrowers to avoid foreclosure. I have seen lenders drop the loan balance by as much as $250,000 on a $1.5M loan. However, this recent data also represents the fifth straight month decline in NOD and offers support that the San Diego housing market is bottoming out. foreclosures in Oceanside, Carlsbad, San Marcos, Encinitas and Vista are much harder to purchase with multiple bids and overbids the norm.

San Diego Weekly Foreclosure Lists

Please click on the link below to receive the latest recorded foreclosures (Notices of Default, Trustee Sales, & Bank Owned) for the week ending 10/15/08. The lists are searchable by zip code or city by using the find function under the edit pull down menu. If you have any questions please call me at
760-431-8724.

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