Mortgage Defaults Up To Highest Point In 2 Years

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Mortgage Defaults Up To Highest Point In 2 Years.

Uh oh. This from the Associated Press via the LA Times:

The number of California homeowners who received mortgage default notices increased in the first quarter to the highest level in more than two years, a real estate research firm said Tuesday.

Lenders sent 18,668 default notices to homeowners from January to March — a 23.4% increase from the fourth quarter of 2005 and a 28.7% rise from the year-earlier period, according to La Jolla-based DataQuick Information Systems.

-- The Boy in the Big Housing Bubble