Short week means low Notice of Defaults
This past week saw a low in the Notice of Default(NOD) filing in Pima County. Only 116 notices were filed, however 85706 received 19 of those notices. The Zillow estimate of those homes comes in around $19.9 million, while the 1st lien position comes over $20 million dollars. Add in the usual 15% second and the total encumbrance adds up to $23 million. Meaning this past weeks homes are very underwater and unlikely to sell unless a large short sale is negotiated with the lenders.
Here is the chart.
Tags: Notice of Default, pima county