The landscape of our housing market is heavily under the influence of the "foreclosure crisis" and will likely be so for some time. We can take comfort in finding that the banks and the government combined have started to make progress in stemming the tides and working out pre-foreclosure alternatives. Roberto and Rusty have advocated for Short Sales since before the crisis was well publicized and will continue to help those homeowners who need to sell but find themselves in a negative equity situation. Please call us if you or someone you know is facing foreclosure. Office: 408-885-9750
According to Foreclosure Radar:
Discovery Bay, CA, May 11, 2010 - 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 2010. Foreclosure filings were down in April for the first time since the beginning of the year. Despite the decline in filings, the inventory of properties in preforeclosure or scheduled for sale only dipped slightly as the drop in filings were offset by an increase in the time to foreclose. Cancellations continue to climb, up more than 32 percent from the beginning of the year. The number of properties sold to 3rd parties also continues to climb, helped again this month by slightly better discounts. “The steady rise in cancellations leads us to believe that loan modifications and short sales are gaining
traction” says Sean O’Toole, Founder and CEO of ForeclosureRadar.com.
Click below for the full report ~
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