Swelling California Foreclosure Listings Indicate Rise In Foreclosure Activity In The State

Posted on July 29th, 2008 in California

The period of April through June for this year has so far recorded 121,341 notices send out to California homeowners for having defaulted on their payments so far. This indicates a rise of 6.6% from around 114,000 properties in various stages of foreclosures for Q1 of this year and a sad but stupendous rise of 124.9% from 53,943 defaulters from Q2 of 2007 as per various reliable sources. California foreclosure listings are now brimming with various kinds of residential properties at discounted rates in counties such as San Francisco, Marin, San Mateo as well as in Merced, San Joaquin and Stanislaus, and Los Angeles.

Los Angeles, California

According to the statistics posted by DataQuick, the number of notices of default for Q2 of this year has been the highest since 1992!

Moreover, a very large number of California homeowners are increasingly facing the wrath of lenders who have already started foreclosure proceedings against them. The rapidly growing number of foreclosures has led to an extensive inventory of foreclosure listings in California.

Furthermore, the increasing number of foreclosures making their way into California foreclosure listings can be attributed to most of the home loans that defaulted in the last quarter and were taken from September 2005 through November 2006.

Due to a slowing economy and a slack real estate market, the number of California homeowners losing their homes to foreclosure has skyrocketed and added value to the already long inventory of foreclosure listings in California. After all, if the number of homeowners defaulting on their loan continues to increase like this, chances are that you’ll be able to buy the house that you have always wanted, thanks to California foreclosure listings, which allows you to work with online foreclosure brokers from the comfort of your home.

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