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(AP) LA JOLLA, Calif. A real estate research firm says the number of
California homeowners who received mortgage default notices increased in the
first quarter to the highest level in more than two years.

Lenders sent more than 18,000 default notices to homeowners between January
and March -- for a 23.4 percent increase from the fourth-quarter of 2005 and
a 28.7 percent hike from the year-ago period.

The notices serve as an early indicator of possible foreclosures.

Today's information comes from DataQuick Information Systems.

DataQuick president Marshall Prentice says the hike was largely driven by
the slowing of annual home price increases, which makes it harder for
homeowners to sell their homes and pay off lenders.

Typically, about five percent of homeowners who receive default notices end
up losing their homes to foreclosure.

The counties that saw a more than 50 percent increase in the number of
notices during the first quarter were Yuba, San Benito, Stanislaus, Placer,
Monterey, Santa Cruz, Napa, Ventura, Riverside and San Diego.


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