There seems to be a trend this month with California’s Foreclosures according to June’s Foreclosure Radar Report. Everything is dropping! From foreclosure filings, to outcomes, to inventories. These trends were dropping across the board from April to May.
Notice of Default filings were down 43.3 percent and Notice of Trustee Sale filings were down 35.8 percent. The one most notable increase? Cancellations. They were up 141.3 percent.
Founder and CEO of ForeclosureRadar.com Sean O’Toole is a little surprised by the outcome. He points out that foreclosure activity should be rising and not falling given the large number of delinquent home loans.
“The most telling statistic that we present today may be that it takes lenders two months longer to foreclose than it did a year ago,” says O’Toole.
ForeclosureRadar.com is the only website that reveals everything you need to know about the activity and trends in the California foreclosure market and provides daily auction updates. Foreclosure Filings, Foreclosure Outcomes, Foreclosure Inventories, Foreclosure Discounting, Foreclosure Timeframes, even Foreclosure Activity organized by County – everything you need to know is in one place.
To see the full report, click here!
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