• NEWS 90.9 KXJZ Sacramento
  • 90.5 KKTO Tahoe/Reno
  • 91.3 KUOP Stockton
  • 88.1 KQNC Quincy
  • MUSIC 88.9 KXPR Sacramento
  • 91.7 KXSR Groveland/Sonora
  • 88.7 KXJS Sutter/Yuba City

RealtyTrac: Foreclosure Rates Drop In August

Share | |
(Sacramento, CA)
Thursday, September 13, 2012

Foreclosure activity fell by more than 30% in August on a year-over-year basis - the ninth consecutive month of an annual decrease. But California still had twice the national average in foreclosures.

"California was hit so hard by the foreclosure crisis that even with the long term downward trend in foreclosure activity the numbers are still very high."

That's Daren Blomquist with RealtyTrac - the foreclosure listing service that released the data. He says one in every 340 California housing units received a foreclosure filing in August.
"I think there's a light far at the end of the tunnel. California overall, and in most of the markets, we're past the worst of this. But it's just going to be a bumpy road ahead."
"Bumpy" he says because lenders now have more guidelines to follow in California under the Homeowner's Bill of Rights…and that may temporarily delay the foreclosure process as banks make sure they're doing everything by the book.
We Get Support From:
Become a Supporter

We Get Support From:

Become a Supporter