Foreclosures in Bay Area down 13% to a 14-year low

From the Chronicle today, "Foreclosures in the Bay Area dipped to their lowest level in 14 years during the third quarter. Lenders sent a total of 2,006 default notices to homeowners in the nine-county region during the three months that ended Sept. 30 -- down 13 percent from the year-ago period and 6 percent from the second quarter, the real estate information firm DataQuick reported Thursday."

"Brisk price increases across the Bay Area have helped keep foreclosures at rock-bottom levels, analysts said. As prices rise, even financially strapped borrowers can usually sell their homes at a profit."

"DataQuick found mortgages were least likely to go into default in San Francisco and Santa Barbara counties."