Palmdale is the only Los Angeles area showing high defaults so far.

In recent study by the Los Angeles Times using data received from Dataquick, Palmdale is the only city in Los Angeles County that is showing a high level of home loan defaults so far.

High on the list are many areas of Riverside County and the Sacramento area. Moreno Valley is one of the hardest hit, with 333 homes in two zip codes receiving notices of default. That’s out of almost 16,000 homes in the two zip codes combined. Perris, also in Riverside County, has the highest default rate with 177 out of 9,400 homes receiving notices of default.

Here are the numbers for selected Santa Clarita areas:

Please note that just because a homeowner has received a notice of default, it doesn’t mean that the home will actually go to foreclosure. Many homeowners will either refinance or sell their homes before the bank takes over their home through the foreclosure process. And, as discussed in other sections of this blog, many of the homeowners who are in hot water are those who did cash-out refi’s after the purchase of their homes, rather than those who just did 100% financing.

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