The number of Californians entering foreclosure dropped steeply in the second quarter to hit its lowest level since 2007, a sign the foreclosure crisis in the Golden State could be easing amid a more stable housing market and increased scrutiny from regulators.
Notices of default filed against California homes dropped 19.2% during the three months ended June 30, when compared withthe same period a year earlier, and 17.0% from the prior quarter, according to San Diego research firm MDA DataQuick.
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