2009-10-23housingwire.com

The volume of mortgage default notices filed on California homeowners fell more than 10% in Q309, according to MDA DataQuick, a mortgage information provider based in San Diego.

The drop in notices of default — the first step in the foreclosure process — stems from evolving foreclosure polices from lenders, an unsteady legislative environment and an increase in the number of renegotiated mortgages, according to the report.


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