Ar_home_b_search
 



sb1137: California Foreclosure "Shadow Inventory" between 80,000 & 100,000 Homes. Can It Get Any Worse? - 04/09/09 01:26 PM
Shadow inventory is the number of foreclosed homes not currently on the market.
What this means is that when this foreclosed inventory is unleashed, prices will be pushed down much further than projections estimated. Current estimates are a continued drop of 10 to 30% through December 2010.
RealtyTrac compared these figures to it's current inventory which only reflect 30% of foreclosures were listed.*
Also, there are many foreclosure moratoriums that are simply hedging the inevitable foreclosure. (CA SB1137 is one) These homes have not been reported, but they could be double the current projections.
What does this mean?
Continued steep drops … (3 comments)

sb1137: If your a home owner and can’t make the Payments READ THIS…SB1137 - 08/10/08 09:43 AM
If you have purchased a home in California during the time period of 2003-2007 California State Bill 1137 and are in danger of loosing your home you will want to understand this new law. Effective on or around September 8th mortgage lenders doing business in California are going to be held accountable to make every effort to find other solutions than foreclosure.
Highlights of the new law are as follows:
- Contact Between Lender and Borrower: Effective on or about September 8, 2008, a lender, trustee, or authorized agent may not file a notice of default until 30 days after … (0 comments)