The newest issue of the exclusive ForeclosureRadar.com report is now available and it has some interesting trends to share about the current state of foreclosures in California. The question is – are foreclosures declining? The start of the foreclosure process is known as a notice of default. After four months of decline, there was a sudden 19.7% jump in February of these notices of default filings.
However, there is a lot more to the foreclosure process than just the initial filing. If we look at the Foreclosure sales, meaning a fully executed foreclosure, we see that they have declined 11.9% in February. Overall, it’s difficult to say whether the efforts that the Administration is making to slow down foreclosures are fixing the problem at hand – excessive household mortgage debt.
A couple other interesting finds were:
– Foreclosure inventory of properties scheduled for sale increased a whopping 126% from the prior year.
– Third Party Investors foreclosure purchases increased 23.2% – the biggest increase since September 2006.
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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