Banks and loan servicers began the foreclosure process on 2,486 home loans in Orange County in June, the highest total in three months, reports ForeclosureRadar.com. Notices of default, which officially start the long foreclosure process, increased 16% from May and 10% vs. a year earlier. The chart ( click on it for larger image ) shows NODs, notices of trustee’s sale, and actual foreclosures from July 2007, the start of the credit crunch. Banks typically file a notice of default after a borrower misses three or more monthly payments, and not all NODs end in foreclosure. Actual foreclosures — properties that either went to an investor or more commonly to the bank at  auction — totaled 910 in June, up 19% from May, but down 22% from a year ago. A statewide 90-day foreclosure moratorium began in June, but the biggest lenders and servicers already have temporary or permanent exemptions. So it’s hard to say what impact the moratorium is really having

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