September 09, 2009
Notices of Trustee Sales and Notices of Default Drop in August
The number of Notice of Trustee Sales filed in Imperial County fell in August, as did the number of Notices of Default.
August is also the first month both numbers have decreased from the previous month since April of this yearThe number of Notices of Default (NOD) dropped in August. There were 191 NOD filed with the county in last month. That compares to 248 NOD that were filed in the county in July. The August figures continue a trend that has seen the number of NOD's filed each month decrease, except for the months of June and July, since February of this year.
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.
The number of Notice of Trustee Sales filed in Imperial County also fell in August.There were 195 Notice of Trustee Sales (NOTS) filed last month in Imperial County, according to figures from the Imperial County Recorder's office. That's a drop from the 219 NOTS that were filed in July.
The number of NOTS dropped dramatically in June, but increased again in July.
August is also the first month both numbers have decreased from the previous month since April of this year.
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.
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 |
| July | 248 | 219 |
| August | 191 | 195 |
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.