Bank Owned Properties on the Decrease?

Mortgage defaults in California have fallen to their lowest level in three years, market researcher MDA DataQuick said Wednesday.   In the Sacramento region, home defaults have dropped 38 percent in the past year. 
 
Some of the drop-off may reflect an increase in short sales, in which troubled homeowners sidestep the foreclosure process but still lose their homes. But experts said it’s also a sign of a housing market that’s genuinely improving.

Read more: http://www.sacbee.com/2010/07/22/2907031/mortgage-defaults-fall-as-short.html#ixzz0uRshD0Rm

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