Thursday, January 17, 2008

This Week's Notice of Default List

I just looked at the list of notice of defaults filed in L.A. County this week. Simply put, a NOD is filed when a homeowner is three-plus months' behind in mortgage payments. It's the first step in a foreclosure. Lots and lots of NODs were filed for properties in Lancaster and Palmdale. So many, in fact, that I expect those communities to be ghost towns soon. Just about every community had at least one or two (I think Burbank had about 7, and Studio City had about 4), but L&P had dozens. Yikes.

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