Monthly foreclosure activity spikes in Tulare County

Source: The Business Journal

Foreclosure notices varied across the Valley in August, but the largest spikes were seen in Tulare County. According to new data from Property Radar, there were 128 notices of default filed in Tulare County during the month compared to 109 the month before and 207 the year before. Notices of sale, which serve as a homeowner's final warning before their home goes to auction, totaled 117 compared to 82 in July and 245 last year. Fresno County saw 240 notices of default in August, down from 253 the prior month and 516 a year ago. Notices of sale rose to 209 in August compared to 185 in July, but were still far below 467 in August 2012. There were 31 notices of default filed in Madera County during August, down from 38 in July and 86 last year, while notices of sale fell to 32 compared to 50 the prior month and 69 in August 2012. In Kings County, 44 notices of default were filed in August, up from 40 in July but down from 74 last year. Notices of sale bumped up to 43 compared to 37 the month before but remained well below the 71 in August 2012. Throughout California, notices of default totaled 8,061 in August, up slightly from 8,026 in July but down 54.6 percent from 17,722 a year ago. Notices of sale came in at 8,113, up 4.1 percent from 7,797 the month before but down 50.2 percent from 16,276 last year. Of the 7,900 homes that went to foreclosure auction in August, 5,082 were cancelled, 1,668 went back to the bank and 1,150 were sold to a third-party buyer.

URL to original article: http://thebusinessjournal.com/news/real-estate/8482-monthly-foreclosure-activity-spikes-in-tulare-county

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