While foreclosure starts fell in California during December, slightly more foreclosure auctions were set than in the previous month, according to figures released by ForeclosureRadar.com.
The drop in notices of default (NODs) was attributed to documentation and legal issues still plaguing residential servicers, according to Sean O'Toole, founder and CEO of the foreclosure tracking website.
According to the company, in California NODs fell 16.7% from November, while notice of trustee filings went up 1.5% from the previous month. Actual foreclosure sales dropped ever so slightly, with 0.7% fewer homes going to lenders and 8.2% fewer bought by investors.
California is the largest housing and mortgage market in the U.S., accounting for 15% to 20% of activity.
