Posted by: Catherine | February 23, 2011

Clayton and Concord Foreclosure Activity February 2011


Concord CA foreclosure activity

Concord, CA  foreclosure activity

It is really unbelievable how bad the foreclosure activity is getting.  If you thought things were getting better, I think you will find 2011 to be just as bad, or worse than the bottom we hit back in 2009. 

Currently there are almost 1100 homes in Concord heading toward foreclosure with either a Notice of Default or a Notice of Trustee Sale. Over 500 properties in Concord have the Trustee Sale notices which means a foreclosure auction date has been set.

Now, it is true that these trustee sale dates can be postponed (usually), and at times they’ve already been postponed several times but calling a realtor for help with a short sale after the notice has been taped to your door, may be too late.

 

Now in Clayton, comparatively it’s almost as bad. Over 80 homes aClayton CA foreclosure activityre on the foreclosure track, and 40+/- have their foreclosure auction (trustee sale) dates set.  This really shows we’re still a market very much in flux. 

We have to remember, that the temporary “decrease” in foreclosure filings the news raved about last month were mostly a result of the STOPS on foreclosures many banks instituted due to the scrutiny over their foreclosure practices.  California, was largely unaffected by the so called “robo signing” problems, as most of the issues were in “deficiency states.”  Did you know that in California, if a bank forecloses upon a home using the commonly seen “trustee sale” technique, they have exhausted all efforts against you?  Their only action was to take the property back.  In other states, they use a process akin to a “judicial foreclosure” and CAN both take your property AND sue you for the deficiency.

California has many protections for homeowners in default.  Later, I will provide more information about each of the protections available.  If a short sale is inevitable for you, now is the best time – with state protections on income tax and deficiency – now is the time you have help.  These laws (specifically) the tax laws may change in the coming years.


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