Bank foreclosure cancellation efforts have been stepped up by mortgage lenders in California following pressures from lawmakers and Obama administration officials to modify more loans and to put more trial loan modifications into permanent modifications.
In November, nearly 10,500 scheduled foreclosure filings across California were canceled by lenders, a 20-percent increase from the 8,741 scheduled foreclosures canceled in October, based on data from a California-based foreclosure research firm.
In the county of Santa Clara, a total of 337 scheduled foreclosures were reversed, up from the 269 foreclosures canceled in October. Each working day in October, 416 cancellations were made and cancellations increased to 581 each working day in November.
Original Post: Bank Foreclosure Cancellation Stepped Up in California on BankForeclosuresSale.com.
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