Distressed mortgages continued to put a drag on the troubled economy in June as 1,838 homes in San Diego County went into foreclosure, an 18 percent increase over the previous month and a 180 percent increase over June 2007, DataQuick Information Systems reported Tuesday.
June marked the 39th consecutive month of year-over-year increases for both foreclosures and notices of default, the start of the foreclosure process. June notices of default reached 3,083, a drop of nearly 2 percent from May but a rise of 93 percent from a year earlier. ”
Now if we put this into a bigger context, such as jobs lost (see Rich’s research) and also 1st hand experience/sentiment…..it’s getting uglyer by the minute.
