California Foreclosure Activity Declines in September – Marina del Rey Condos
Foreclosure activity declines in September
Notices of Default (NOD) decreased 20.7 percent in California in September compared with August, and were down 48.1 percent compared with last year, according to ForeclosureRadar.
Foreclosure sales in California were down 17.9 percent from the prior month, and down 30.4 percent compared with last year. However, a larger portion of Trustee Sales, 39.2 percent, were purchased by investors compared with 27.2 percent last year.
“It was recently reported that the nation’s five largest mortgage servicers have implemented all of the 320 servicing standards required under the national mortgage settlement,” stated Sean O’Toole, founder & CEO of ForeclosureRadar. “The continued decline in Foreclosure Starts clearly shows that even though servicers are now apparently in compliance and clear to move forward with foreclosures, they are still in no rush to foreclose on the majority of delinquent borrowers.””
The time to foreclose on delinquent loans in California declined 2.8 percent in September.
- Recap of Condo & Loft Sales & Inventory in Marina del Rey
- Qualifying for a Mortgage will be Harder in 2014 So Refinance Now – Marina del Rey Real Estate
- FHA Mortgage Price Hike Hits Borrowers – Marina del Rey Real Estate
- Marina del Rey’s Water Taxi is Back on June 18th, 2015
- Russian Billionaire Roman Abramovich’s Mega Yacht ‘Luna’ was off the Coast of Marina Del Rey Labor Day Weekend
- Marina del Rey Hotel is Getting a Face-lift! Opening Summer 2014
- Marina del Rey’s Fisherman’s Village May be Getting a Major Facelift!!
- Marina del Rey’s Esprit Apartment Complex Sells for $225 million – 13900 Marquesas Way