Fewer California borrowers entered foreclosure during the final three months of the year, according to new data. But the holiday respite, coming after a sharp summer increase in new defaults, may not last.
The number of California homes entering foreclosure in the fourth quarter fell 11.9% from the same period in 2010 to the second-lowest level over the last four years, said DataQuick, a real estate information firm in San Diego. A total of 61,517 notices of default, which are filed to initiate foreclosures, were recorded on California properties during the fourth quarter. That was a 13.7% drop from the third quarter of 2011.
Source: Latimes.com
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