February 2010 California Foreclosure Report

We just posted our February 2010 California Foreclosure Report.

Highlights from this report:

• Notices of Default increase by nearly 20%
• Foreclosure sales decreased by 12%
• Auction discounts drop
• Percentage of trustee sales purchased by 3rd parties highest since we began tracking in 2006

After reaching the lowest level in a year, in February 2010, Notice of Default filings increased almost 20% in February. The number of properties scheduled for sale remain at record highs, yet foreclosure sales dropped and the disconnect between delinquencies and foreclosure sales continues to widen.