More homeowners struggle in Surf City

November 24th, 2009, 5:00 am · 4 Comments · posted by Mathew Padilla

All four of Huntington Beach’s ZIP codes saw an increase in mortgage default notices in the third quarter of this year vs. a year earlier, a sign that many more foreclosures could hit the city in the months ahead.

The ZIP with the highest concentration of notices of default was 92648. It saw 91 NODs for the three months ending in September — that equates to a ratio of 8 notices per 1,000 houses and condos.

Although that was the highest ratio in Surf City, it was still in the bottom half for all of the county. Most NODs hit central county cities like Santa Ana and Anaheim, although Ladera Ranch had the highest concentration in the entire county.

Banks typically file a notice of default, which starts the foreclosure process, after a borrower misses three or more monthly payments.

Here’s a table showing NODs in Q3 by ZIP in Huntington Beach, with percentage gain from a year ago, and NODs per 1,000 homes.
.

ZIP	NODs Q3	Yvs.Y	NOD/1,000H
92648	91	68.5%	8
92647	84	121.1%	7
92646	93	29.2%	5
92649	48	20.0%	5

To see the full list of O.C. ZIPs, CLICK HERE.

More Surf City news…

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Surf City home "mood ring"

For the 22 business days ending January 8 -- DataQuick's freshest stats -- we tap into Surf City's homebuying mood with how local ZIPs fare vs. a year ago! ZIPs with GAINING median prices and sales are GREEN while MIXED trends are YELLOW and FALLING prices and sales are RED!

ZIP	Price	Ch.	Sold	Ch.
92646	$610,000	+6%	38	+9%
92647	$493,500	-1%	28	+8%
92648	$678,500	-16%	34	+17%
92649	$935,000	+8%	20	-17%

Overall O.C. home trends are HERE!

Tex says:

November 24, 2009 at 11:08 am

Walk Away: Why More People Should Abandon Their Homes
Study Finds Homeowners Fight Foreclosure Even When It Doesn’t Make Sense
http://abcnews.go.com/Business/shame-cost-homeowners-big/story?id=9120264

Ed says:

November 24, 2009 at 12:55 pm

Way to promote responsibility Tex. But then you are probably one of those “flipper-broker-crooks” who got us into this mess, and is looking to get the market to rebound ASAP so you can start the scam all over again. Some folks bought a home, surprise surprise, as a HOME. Not an investment or an ATM machine. Those who did, should pay the price of their own greed and stupidity. But if they planned properly, their mortgage payment is not an issue, regardless of home value. It’s people like you crying the “walk away” policy that give folks with good intentions bad ideas. Look up the words responsibility or obligation some day. If you don’t want to deal with those words then you shouldn’t be buying anything that’s going to be financed. PERIOD.

schmendric says:

November 24, 2009 at 2:34 pm

If the home is hopelessly underwater, can’t meet mortgage payments, can’t maintain the house, can’t negotiate a deal with the lender, what choice does one have except to walk away? Somebody badly overpaid during the bubble’s exuberant period and cannot turn back.
Nuff said!

Tony Cartman says:

December 1, 2009 at 8:17 am

For sure this is something that bothers… Owners are facing this problem everywhere and foreclosures are hitting hard. Too bad

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