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San Diego County Defaults, Foreclosures Fall Again in May

San Diego Union-Tribune -- San Diego County's notices of default, the first step in the foreclosure process, fell to their lowest level in 31 months in May, numbers from DataQuick Information Systems show.

Foreclosures in the region also declined, said Thursday's report from the real-estate tracking company.

... Mark Riedy, executive director of University of San Diego's real estate center, said banks continue to be "judicious" about pushing homes through the foreclosure process because they don't want too many losses on their books. Lenders have been controlling that flow also because too large of an infusion could "further depress prices," Riedy said. (Full Story)