Foreclosures fall in August
- Published on 09/11/2012 - 4:27 pm
- Written by Business Journal staff
Foreclosure activity dropped throughout California in August, according to new date from Foreclosure Radar.
Notices of default in the state were down 23.60 percent compared to last month and 49.06 percent from a year ago while notices of sale dropped 9.8 percent in 36.87 percent respectively.
Of the 20,930 foreclosure filings in the month, a little over half were cancelled, 28 percent went back to the bank and 18 percent were sold to a third party.
In Fresno County, there were 516 notices of default filed in August, down 15.27 percent from the prior month and down 44.81 percent from a year ago. Notices of sale, which serve as the homeowner's final warning before their home goes to auction, dropped 7.34 percent in the month and 22.43 percent over the year to a total of 467 in August.
In Tulare County, 207 notices of default were issues in August, down 24.18 percent from July and 46.65 percent from last year. Notices of sale totaled 245 in the month, up 6.99 percent from the prior month but down 7.55 percent from last year.
Madera County saw 37 notices of default filed in August, which is down 71.32 percent from the prior month and 79.78 percent from a year ago. Notices of sale dropped 71.43 percent in the month and 81.43 percent over last year to a total of 26 in August.
In Kings County, there were 96 notices of default filed in August, down 42.86 percent from the month before and 39.62 percent from a year ago.
Notices of sale totaled 92 in the month, down 32.35 percent from July but up 3.37 percent compared to last year.