Sacramento area foreclosures decline sharply

Published: Thursday, Dec. 26, 2013 - 3:11 pm
Last Modified: Thursday, Dec. 26, 2013 - 5:47 pm

Foreclosure activity in the four-county Sacramento region fell by more than 63 percent in November compared with the same month last year, RealtyTrac said in its most recent report.

The Irvine-based real estate information service reported that notices of default, which start the foreclosure process for borrowers who have not made mortgage payments in at least three months, fell from 832 in November 2012 to 359 last month.

Notices of trustee sale, which signal that a repossessed home will be sold at auction, fell from 1,108 in November 2012 to 320 in November 2013, the firm said.

The RealtyTrac report covers foreclosure activity in Sacramento, El Dorado, Placer and Yolo Counties.

Rising home prices, a strengthening economy and government programs to help struggling homeowners have resulted in a huge reduction in foreclosures and preforeclosure filings in the past year in the Sacramento area and across much of California.

Call The Bee’s Hudson Sangree, (916) 321-1191.

Read more articles by Hudson Sangree

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