June Notice of Trustee Sales Drop By Almost Half
The number of Notice of Trustee Sales filed in June in Imperial County dropped by almost half from the previous month, according to figures from the Imperial County Recorder's office.
It is the first time month-to-month Notice of Trustee Sale figures have dropped in Imperial County in four months.
The number of Notice of Trustee Sales (NOTS) dropped dramatically in June. There were 155 NOTS filed with the Imperial County recorder's office in June. That is a substantial decrease from the 300 NOTS that were filed in May. It is the first time month-to-month NOTS figures have dropped in Imperial County in four months.Notice of Trustee Sales occur three to four months after a 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.
However, the number of Notices of Default (NOD) rose slightly in June. There were 259 NOD filed with the county in last month. That compares to 237 NOD that were filed in the county in May. The June figures are the first month-to-month increase in the number of NOD filed in the county in five 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.
Here's a breakdown by month of the number of Notices of Default and Notice of Trustee sales in Imperial County for eleven months of 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 |
| June | 259 | 155 |
SOURCE: Imperial County Recorder's Office
For 11 months of 2008, 2,568 Notices of Default , and 1,912 Notice of Trustee Sales were filed in the Imperial County recorder's office. Figures for June 2008 are not available.