Posted by: Catherine | May 11, 2010

Foreclosure statistics for Contra Costa: Foreclosure Cancellations climb


Foreclosure Radar has reported that foreclosure sale cancellations continue to climb.  Is it a sign that loan modifications and short sales are working?   Notice of default filings were were down in April.  Cancellations of the trustee sales was up too.

I know short sales do often work out.  Time frames for many of the major banks are getting shorter (B of A, Wells, Wachovia, Citi), though other lenders i.e. Chase and Suntrust, remain as bad as ever – maybe even worse in some cases. 

So check out the Foreclosure Radar article here:

Foreclosure Cancellations Continue to Climb, Short Sales and Loan Modifications are not the only explanation

Do you need help on a short sale, or resources for a loan modification or to avoid foreclosure?  Want to buy a home?

Catherine Myers
BROKER Associate
DRE Lic 01337828
925-683-2125
Windermere Bay Area Properties

Real Estate, Homes for Sale in Contra Costa and Alameda Counties.
Walnut Creek, Clayton, Concord, Pleasant Hill, Martinez, Danville, San Ramon, Alamo, Lafayette, Orinda, Moraga, Bay Point, Pittsburg, Antioch, Brentwood and surrounding areas.


Responses

  1. Don’t trust Foreclosure Radar’s statistics too much. They allege to track every foreclosure, but just a few minutes of deep testing will show that their site misses, misposts, and wholly omits many foreclosures. They consistently have wrong data from other sources, like the lien status of the mortgage and current assessors data too. Their statistics are probably ok within a broad range of error for general news reporting, but the lag in their postings makes it virtually impossible to acquire timely data for investor auction bidding.


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