Foreclosure figures show mixed results
While the number Notice of Defaults filed in May in Imperial County fell for the third straight month, the number of Notices of Trustee Sales increased substantially in the same month, according to figures from the Imperial County Recorder's office.
Five months into 2009, both the number of Notices of Default and the number of Notice of Trustee sales filed in Imperial County are greater than 2008 levels.
According to figures from the Imperial County Recorder's office, there were 237 Notices of Default (NOD) filed with the county in May. The 237 NOD filed are another significant drop from the 273 NOD that were filed in April. Notices of Default filed in Imperial County have now declined for three straight months.
A Notice of Default is the first step in the process of foreclosure on a home. If a borrower misses a series of consecutive payments, the lender will send the default notice to the borrower, and file the notice with the county.
But the numbers also show that 300 Notice of Trustee Sales (NOTS) were filed with the county in May. That number is an increase from the 221 that were filed in the county in April, and is also the highest one-month total of NOTS filed in Imperial County in the last 17 months.
Notice of Trustee Sales occur three to four months after the Notice of Default has been filed, and indicate that the borrower has not corrected the problems outlined in a Notice of Default, and that the property will be set for auction at a Trustee's sale.
Five months into 2009, both the number of NOD and the number of NOTS filed in Imperial County are greater than 2008 levels.
Through the first five months of 2008, there were 1,185 Notices of Default filed with the county. For the same period of 2009, the number is 1,384.
Through May of 2008, there were 688 Notices of Trustee Sales filed here. For the same period of 2009, the number is 922.
Here's a breakdown by month of the number of Notices of Default and Notice of Trustee sales in Imperial County for 2008 and the most recent month of 2009.| Month | Notice Of Default | Notice Of Trustee Sale |
| January | 206 | 109 |
| February | 234 | 136 |
| March | 248 | 105 |
| April | 268 | 145 |
| May | 229 | 193 |
| July | 255 | 212 |
| August | 262 | 166 |
| September | 97 | 116 |
| October | 84 | 134 |
| November | 149 | 196 |
| December | 296 | 194 |
| 2009 | ||
| January | 245 | 139 |
| February | 326 | 130 |
| March | 303 | 236 |
| April | 273 | 221 |
| May | 237 | 300 |
SOURCE: Imperial County Recorder's Office
For the year of 2008, 2,568 Notices of Default , and 1,912 Notice of Trustee Sales were filed in the Imperial County recorder's office.