First Drop in California Foreclosures in 2010 - www.4Malibu.com

By
Real Estate Broker/Owner with 4 Malibu Real Estate Lic# 01457517

Malibu Real Estate 


 

The Malibu Real Estate Resource Guide

Malibu California Real Estate ׀ Malibu Homes for Sale & Lease ׀ Malibu Land


 

First Drop in California Foreclosures in 2010

Foreclosure filings in California dropped in April for the first time since the beginning of the year, according to ForeclosureRadar, which tracks the filings.

Notices of default dropped 16% from March, after rising 3.75% from February. Default notices also increased 41% from last year, reaching 27,832 in April. The notices of trustee sale declined 10% from March to 30,578 in April. The amount of properties heading back to the bank as REO dropped 5.5% from March but stayed 19% above levels seen last year.

But the inventory of properties in pre-foreclosure or scheduled for sale did not drop as much. Pre-foreclosure inventory includes properties that have received a notice of default but have not been scheduled for sale. Pre-foreclosures dropped 3.17% from March, while the properties scheduled for sale dropped 2.7%.

Foreclosure cancellations, however, continue to increase after passing REO levels in December 2009. Cancellations increased another 11% in April, a sign that foreclosure alternative programs such as the Home Affordable Modification Program (HAMP) and the Home Affordable Foreclosure Alternatives (HAFA) program could be making a dent in California.


 

Bobby Lehmkuhl ׀ Bobby@4Malibu.com ׀ 310.365.7696 ׀ Broker Lic. #01457517

Danielle Dutcher ׀ Danielle@4Malibu.com ׀ 805.341.8769 ׀ Broker Lic. #01463653


 

Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although information has been gathered from sources believed to be reliable, please note that individual situations can vary, therefore, please consult a professional for specific advice.


 

Follow 4Malibu.com on Twitter & Facebook.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
California Los Angeles County
Groups:
Everything California
REO
Posts to Localism
Local Expert
Tags:
preforeclosures
first drop in california foreclosures in 2010
california foreclosure filings
reos in california

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
370,136

Bobby LehmKuhl

Exceeding Every Clients Expectations. Every Time.
Ask me a question
*
*
*
*
Spam prevention