As the world recovers from the recent economic recession, its impact is still being felt by millions of American homeowners who face great dilemma of falling victim to housing foreclosures. While some might still avoid the looming foreclosures through the assistance of Obama Mortgage Modification Plan, many others, however, are still not financially capable to meet the steep requirements. Thus, all the years of hard work to own a property would just end up in filing out for the foreclosure process. … [Read more]
California Mortgage Defaults Hit Three-Year Low; Foreclosures Rise
September 3, 2010 By Leave a Comment
La Jolla, CA.--The number of California homes pushed into the formal foreclosure process between April and June dropped for the fifth consecutive quarter to the lowest level in three years. The declines were greatest in the most affordable areas, where foreclosure activity continues to fall from extremely high levels over the past two years, a real estate information service reported. A total of 70,051 Notices of Default ("NODs") were filed at county recorder offices during the … [Read more]