Foreclosure filings in Shasta County dropped significantly compared to the previous month. There were only 59 Notices of Default filed compared the previous months number of 206.
When we compared this month last year we saw a 34% fewer filings. September 2007 there were 89 notices of default file and only 59 in September 2008.
This significant drop could be a result of lenders being more motivated to work with borrowers and resolving the loan delinquency before it gets to foreclosure. This could be a good sign however we are expecting next month’s number to be well above a hundred but below Augusts high of 206.