The real estate website ForeclosureRadar.com reported a 60.5% decline in California default notices in January from December. The number of default notices — the first formal step in the state’s foreclosure process — fell 77.7% from December 2011.
A total of 4,500 such filings were logged last month, the lowest number of default notices since at least September 2006, when the website’s records begin.
California foreclosure starts plummet 60%
Source: LA Times