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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 14 Aug 2005 01:03:19 -0700 /

Author of the message: kuacou241@yahoo.com

Title of the message:
LAT: Mortgage Defaults Expected to Grow

Text of the message:
latimes.com
Mortgage Defaults Expected to Grow
With home-price rises slowing, many Californians behind on payments
won't be able to avoid foreclosure, a research firm says.
By Annette Haddad
Times Staff Writer
August 13, 2005
In another sign that California's real estate boom may be peaking, the
state's foreclosure activity has bottomed and is expected to rise, new
data suggest.
After declining for nine straight years, the number of default notices
sent to delinquent homeowners continued to level off during the second
quarter, real estate research firm DataQuick Information Systems said
Friday.
The reason: The state's real estate cycle is maturing and price
increases are slowing.
"We're currently at a floor level," said John Karevoll, DataQuick's
chief analyst. "Any movement now is going to be up."
A default notice is sent to a homeowner as the first step in a formal
foreclosure process.



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