The number of new mortgage default notices (NODs) and foreclosure sale notices (NOTs) declined in September from their record-shattering August levels, but both figures remain extremely elevated on a historical basis. There were 2,074 NODs filed in the county, a decline of 12 percent from August but more than double the number of NODs filed in September 2006. The 767 September NOTs similarly represents a 15 percent decline from the prior month, but nearly a fourfold increase over a year ago.
The accompanying graph shows that despite the month-to-month decline, the numbers of new NOTs and NODs remain well above levels seen during the 1990s downturn.
— RICH TOSCANO