Sacramento - The number of mortgage defaults in Sacramento and the surrounding foothill areas dropped last quarter, according to MDA DataQuick. The data research company based in La Jolla, California, estimates that the sudden drop in defaults statewide is the result of lenders intentionally slowing the pace of formal foreclosure proceedings. "Trying to keep motivated, employed homeowners in their homes might be the most cost-efficient way to stem losses,” said DataQuick President John Walsh in a statement Tuesday, adding: “(Homeowners have) concluded that flooding the market with cheap foreclosures in this economic environment may not be in their best financial interest.” The company estimates that banks have already resold 87 percent of the 31,854 homes they repossessed in the capital region from February 2008 through July 2009. There have been 73 foreclosures and 115 defaults in Amador County since the beginning of 2007. This latest quarter foreclosure tally brings the total number to 46,907 since 2007 in Amador, El Dorado, Nevada, Placer, Sacramento, Sutter, Yolo and Yuba counties. Story by Alex Lane This email address is being protected from spambots. You need JavaScript enabled to view it.