http://mortgage.freedomblogging.com/2009/04/28/early-foreclosure-filings-spike-across-oc/9709/
When foreclosure filings and Nod's spike in the spring time...you know something is horribly wrong in housing. For anyone with equity can typically sell their property. In addition, the moratorium may have artificially deferred and aggravated the future numbers. It appears we will be faced with a surge of potential foreclosures/short-sales in the late summer to fall market...instead of having them to sell in the spring market....
In all of Orange County nearly 8500 notices of default were filed in the first quarter....8453 according to my count....979 in Anaheim...199 in Yorba Linda and 7 in prestigious Villa Park....cutting through all price ranges...imagine what the actual numbers are assuming no moratorium was in place? As the number of those facing unemployment continues to increase....the trend is likely to grow.
Make it an important day of progress in your life.....Mike
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