February 3, 2006

Mortgage default notices rise 34% in quarter. 50 lose homes.

Analysts saythe uptake in Orange County is merely a result of reduced home price gains. Orange County received 918 notices in the final three months of 2005, compared to 684 in the fourth quarter of 2004, according to Dataquick Information Systems. Only fifty homeowners actually lost their homes to foreclosure in fourth quarter of 2005, compared to 22 a year earlier According to Dataquick. Only 5% of these cases actually go into foreclosure according to the real estate research firm.