April 2009 California Foreclosure Report
From Foreclosureradar.com INVESTORS PURCHASE RECORD NUMBER OF FORECLOSURES AT AUCTION April Foreclosure Notices Drop from March Record Levels Discovery Bay, CA, May 12, 2009 – ForeclosureRadar (www.foreclosureradar.com), the only website that tracks every California foreclosure, and provides daily auction updates, issued its monthly California Foreclosure Report for April 2009. In a reversal from the prior month, foreclosure noticesdropped while foreclosure sales rose. Sales at auction rose by 35 percent overall and a record number ofthose properties were purchased by third parties at an average 28 percent discount from estimatedmarket value. Notices of Default, the first step in the foreclosure process , dropped by 18.2 percent from the record level set the prior month. Notices of Trustee sale, which set the auction date and time, also dropped by...
Newest Defaults Cause Concern over Californias Recovery
By Jim Wasserman jwasserman@sacbee.com Published: Thursday, Apr. 23, 2009 - 12:00 am | Page 9B We're going to find out now whether foreclosure moratoriums and new loan-modification programs will work. Banks and mortgage lenders filed a record 11,049 new notices of default in the capital region in the first three months of 2009, La Jolla property researcher MDA DataQuick reported Wednesday. The firm cited a similar sharp rise in default notices – following a several-month lull – across all of California's foreclosure belts. The rise in defaults came as foreclosures fell for a second straight quarter across the capital region and California. While the sudden spike in defaults suggested another major wave of repossessed homes to further drive down home prices, some analysts counseled caution Wednesday. Bank...
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