The following chart represents the time it took the banks to foreclose on a home in Gilroy, CA. It is up to over a year! The reason for this could be varied, as the bank could be offering a forbearance or just working with the borrower on some sort of new repayment plan. With prices rising, some of these homes will most likely be back above water and the owner will be saved.
If you are looking to by a home in Gilroy, CA, please give us a call.