foreclosures in California Declined in 4th Quarter

This morning's news about lower foreclosures in the 4th quarter should be
taken with consideration to the halt on foreclosures because of robo
-signing. I see most foreclosures are postponed, and more are being
cancelled, and the later I'm guessing is because more short sales are being
approved. In January, I had a short sale approved in 10 days. This is a new
record for me.



It's good to see that short-sales are no longer a waste of time, and I'm
sure the banks attitude as well as system improvements are the reason for
higher completion rate on short sales.



-ss



From DS News:




<http://dsnews.us1.list-manage.com/track/click?u=59816bad6939d5a7dd87e45a5&i
d=a242323f5b&e=ebe71b748c
> California's New Foreclosures Fall to Lowest
Level in Over Three Years


The number of California homes going into foreclosure dropped during the
fourth quarter of 2010 to its lowest level in more than three years.
According to San Diego-based DataQuick, 69,799 Notices of Default (NoDs)
were recorded in the state during the three-month period, down 16.2 percent
from the prior quarter and down 17.5 percent from a year earlier.
California's priciest ZIP codes saw mortgage defaults rise slightly
quarter-to-quarter, but defaults still remain much higher in lower-cost
areas.
<http://dsnews.us1.list-manage1.com/track/click?u=59816bad6939d5a7dd87e45a5&
id=b9502e84d0&e=ebe71b748c
> > Read More

-sunil


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