by Calculated Risk on 9/17/2008 07:26:00 PM

From Mathew Padilla at the Mortgage Insider: Banks seize record number of O.C. homes

Banks foreclosed on 1,427 houses and condos in Orange County in August, surpassing the record set in July by 6% and up 204% from a year ago, reports DataQuick today.

Click on graph for larger image in new window.

This graph shows the number of Notices of Default and Foreclosures per month in Orange County according to DataQuick.

The problem is continuing to get worse. The data isn't broken out by subprime, Alt-A and Prime loans, but my guess is Alt-A and Prime NODs and foreclosures are increasing rapidly.