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FORECLOSURE TRENDS IN NEWPORT BEACH

Knowing what is taking place in the Newport Beach Market will help you make informed choices. If you are interested in Foreclosure Prevention, this is knowledge that will serve you well. NEWPORT BEACH  MARKET TRENDS IN FORECLOSURES Newport Beach has not been sheltered from the downturn in the real estate market. While the real estate market is in far better conditions than many others, there are still 437 home in the foreclosure process. Of this total, the majoring are in the first stage of the foreclosure process, Notice of Default (NOD); 47 percent of the homes in foreclosure are at the NOD stage. Homes that are scheduled for Trustee Sales (foreclosed by the bank and up for sale), is the second largest category. A total of 158 homes went to trustee sale in September. Trustee sales have been trending downward since April. Bank owned home in Newport Beach have been slowly trending downward and now comprise 17% of all homes in Foreclosure.

If your home is in foreclosure, how long can you stay in your home? Legally, the foreclosure process from Notice of Default to Trustee Sale can be completed in 111-days. But then we hear about people staying in ... more

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