Orange County Foreclosure News

By
Real Estate Broker/Owner with Oak Tree Realty Group

The Orange County Foreclosure rate is increasing to numbers 900% higher than last year. Homeowners are falling behind in their mortgage payments causing them to lose their homes to the bank. The 665 default notices that were sent out by the bank in the month of November was a 125% increase from last year.

Since home price appreciation has stalled, more homeowners in Orange County are finding themselves in a financial burden. It used to be when prices were rising they could sell their home and make a huge profit or they used the refinance route and could use the equity they acquired to pay for the home in Orange County.

Although fewer homeowners lost their homes to foreclosure in November than October, the total for October was still the highest it has been in more than six years. To search for these Orange County Foreclosure properties go to Oak Tree Realty Group.

Homeowners falling behind in their mortgage payments and losing their homes is a problem nationwide. Please contact Oak Tree Realty Group for any of your Orange County foreclosure needs.

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Rainer
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Lorena Westervelt
Van West Realty - Greenville, SC
Co-Founder/Co-Owner

Hello, welcome to Active Rain! This seems like a wonderful environment to network as well as learn from others. I hope you enjoy yourself and participate often in the Active Rain environment!

Sep 10, 2008 09:07 AM #1
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Rainer
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Dan Moore

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