San Diego Source > News > Foreclosures flat, notices of default up in February.

Notices of default were up for the first time in four months, while foreclosures remained flat in February according to data from the San Diego County Assessor’s office.
The 2,345 NODs filed were up 25.5 percent from January, despite being down 36.7 percent from February 2009.
It was the highest total of NODs filed in a month since October 2009.
University of San Diego Professor Alan Gin was unsure of why the jump would occur since it is not linked to seasonal change.
“It could be random fluctuation, and we would have to wait a couple more months to see if this means [NODs] are on the rise,” he said.
There were 1,141 trustee deeds filed with the county in February — only one more than in January. February’s totals were down 16.4 percent from February 2009.
“There are some positive signs in the economy, and we need to wait and see if that will help people keep their homes or continue to buy homes,” Gin said.

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