Here are the National foreclosure & default numbers according to the Mortgage Bankers Association for the 2nd quarter of 2009. 

These numbers were provided by the Mortgage Bankers Association,which they distribute quarterly.  They are based on 45,000,000 mortgages and are seasonally adjusted.

National numbers on all Mortgages

4.30% in foreclosure    

8.86% in default (30+ days late)

13.16% Total in Default   

National numbers on Prime Mortgages

3.00% in foreclosure

6.41% in default (30+ days late)

9.41% Total in default    

National numbers of Subprime Mortgages

15.05% in foreclosure

25.35% in default (30+ days late)

40.40% Total in default  

National numbers of FHA Mortgages

2.98% in foreclosure

14.42% in default (30+ days late)

17.40% Total in default

National numbers of VA Mortgages

2.07% in foreclosure

8.06% in default (30+ days late)

10.13% Total in default   

All Mortgages - 2009

As you can see the numbers in default are much higher then those in foreclosure, reason being is the government put a moratorium on foreclosures which has slowed the foreclosure process.  Also Freddie Mac and Fannie Mae have publicly stated they want to move distressed assets through short sales vs acquisition and REO. President Obama's efforts and programs have given the banks incentive to complete more loan modifications where homeowners qualify and to streamline the short sale process for those who don't qualify.

To complete a short sale and successfully negotiate its close in today's market conditions requires a Realtor who has received Certified training as a Pre Foreclosure Specialist.  In many subdivisions as many as 86% or more of the properties active on the MLS are distressed (pre-foreclosure, short sale, bank owned). With 86% of an area's listings being distressed, we have seen as high as 80% or more of an area's closings come from distressed properties.

If your struggling to make your mortgage payment or have missed three or more mortgage payments, it's time to take action.  Don't gamble with your financial future, As a Certified Pre Foreclosure Specialist with a Certified Distressed Property Expert designation, my wife and I have helped homeowners avoid foreclosure and get on with their lives.  You owe it to yourself to learn what options are available to minimize your financial loss and limit the damage to your credit history.  Our consultation is free, educational and confidential. 

Whether your looking to buy or sell, it's critical to select a Realtor who understands this market, has your best interest in mind and the ability to get the job done.  Please contact, Jennifer & Gary Ricco at Keller Williams VIP Properties, we're specialists in Santa Clarita's Pre Foreclosure Real Estate.  661.290.3837 Please visit us at www.SantaClaritaPreForeclosureSpecialists.com

Please visit www.PartnerFirst.org and www.CDPEnow.com to learn about the training we received and networks Jennifer and I are affiliated with.