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California Defaults at a Four Year Low
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
California Defaults at a Four Year Low
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
California Defaults at a Four Year Low

July 20, 2011 (Shirley Allen)

California housing defaults fell dramatically to a four year low in the second quarter of 2011 and is now less than half the record amount recorded just over two years ago according to real estate information provider DataQuick.

A total of 56,633 Notices of Default (NoDs) were recorded in the second quarter of 2011, down 17 percent from 68,239 in the first quarter of the year and down 19.2 percent from 70,051 NoDs in the same quarter of last year.

The number of NoDs was the lowest recorded in any quarter since 53,493 were recorded in the second quarter of 2007, and far less than half the record amount of 135,431 recorded in the first quarter of 2009.

Most of the loans that are still going into default today originated during the 2005 – 2007 time period and are generally serviced or owned by institutions that did not make the original loan.

“A lot of theories are being floated as to why the numbers are down. Bank policy changes. Legal challenges. Politics. Holding back temporarily so as not to flood the market. The fact of the matter is that no one really knows, outside of lending and servicing industry insiders. One thing is certain: Homeowner distress spreads fastest when home price declines are steepest. And it now appears likely that, barring some new economic shock, the worst of the price declines are behind us,” said John Walsh, DataQuick president.

Low cost areas with a median sales price of under $200,000 continued to carry the brunt of the foreclosures with 8.7 default notices per 1,000 homes. Homes in zip codes with $800,000+ plus median prices only received 2.4 default notices per 1,000 homes. The state average was 6.4 default notices per 1,000 homes.

Counties where mortgages were least likely to default were San Francisco, Marin, and Mateo. The counties that experienced the highest level of defaults were Kings, Sutter and Yuba.

Distressed properties sales made up 53 percent of all re-sales in California during the second quarter of 2011. Foreclosure re-sales accounted for 35.6 percent of the quarter’s resale activity, while short sales made up about 17.4 percent of all re-sales for the quarter.

Foreclosure sales rates varied from a low of 8.7 percent in San Francisco County to a high of 57.4 percent in Madera County.

The average amount of time that it took to foreclose on a home after a NoD was received was 10 months, up from 9.1 months from the first quarter of 2011 and also up from 9.1 months in the same quarter of 2010.

Tags: California, defaults, notice of default, NoD, bank policy changes, legal challenges, politics, median sales price, distressed properties, foreclosures, short sales

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 20, 2011 (Shirley Allen)

California housing defaults fell dramatically to a four year low in the second quarter of 2011 and is now less than half the record amount recorded just over two years ago according to real estate information provider DataQuick.

A total of 56,633 Notices of Default (NoDs) were recorded in the second quarter of 2011, down 17 percent from 68,239 in the first quarter of the year and down 19.2 percent from 70,051 NoDs in the same quarter of last year.

The number of NoDs was the lowest recorded in any quarter since 53,493 were recorded in the second quarter of 2007, and far less than half the record amount of 135,431 recorded in the first quarter of 2009.

Most of the loans that are still going into default today originated during the 2005 – 2007 time period and are generally serviced or owned by institutions that did not make the original loan.

“A lot of theories are being floated as to why the numbers are down. Bank policy changes. Legal challenges. Politics. Holding back temporarily so as not to flood the market. The fact of the matter is that no one really knows, outside of lending and servicing industry insiders. One thing is certain: Homeowner distress spreads fastest when home price declines are steepest. And it now appears likely that, barring some new economic shock, the worst of the price declines are behind us,” said John Walsh, DataQuick president.

Low cost areas with a median sales price of under $200,000 continued to carry the brunt of the foreclosures with 8.7 default notices per 1,000 homes. Homes in zip codes with $800,000+ plus median prices only received 2.4 default notices per 1,000 homes. The state average was 6.4 default notices per 1,000 homes.

Counties where mortgages were least likely to default were San Francisco, Marin, and Mateo. The counties that experienced the highest level of defaults were Kings, Sutter and Yuba.

Distressed properties sales made up 53 percent of all re-sales in California during the second quarter of 2011. Foreclosure re-sales accounted for 35.6 percent of the quarter’s resale activity, while short sales made up about 17.4 percent of all re-sales for the quarter.

Foreclosure sales rates varied from a low of 8.7 percent in San Francisco County to a high of 57.4 percent in Madera County.

The average amount of time that it took to foreclose on a home after a NoD was received was 10 months, up from 9.1 months from the first quarter of 2011 and also up from 9.1 months in the same quarter of 2010.

Tags: California, defaults, notice of default, NoD, bank policy changes, legal challenges, politics, median sales price, distressed properties, foreclosures, short sales

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 20, 2011 (Shirley Allen)

California housing defaults fell dramatically to a four year low in the second quarter of 2011 and is now less than half the record amount recorded just over two years ago according to real estate information provider DataQuick.

A total of 56,633 Notices of Default (NoDs) were recorded in the second quarter of 2011, down 17 percent from 68,239 in the first quarter of the year and down 19.2 percent from 70,051 NoDs in the same quarter of last year.

The number of NoDs was the lowest recorded in any quarter since 53,493 were recorded in the second quarter of 2007, and far less than half the record amount of 135,431 recorded in the first quarter of 2009.

Most of the loans that are still going into default today originated during the 2005 – 2007 time period and are generally serviced or owned by institutions that did not make the original loan.

“A lot of theories are being floated as to why the numbers are down. Bank policy changes. Legal challenges. Politics. Holding back temporarily so as not to flood the market. The fact of the matter is that no one really knows, outside of lending and servicing industry insiders. One thing is certain: Homeowner distress spreads fastest when home price declines are steepest. And it now appears likely that, barring some new economic shock, the worst of the price declines are behind us,” said John Walsh, DataQuick president.

Low cost areas with a median sales price of under $200,000 continued to carry the brunt of the foreclosures with 8.7 default notices per 1,000 homes. Homes in zip codes with $800,000+ plus median prices only received 2.4 default notices per 1,000 homes. The state average was 6.4 default notices per 1,000 homes.

Counties where mortgages were least likely to default were San Francisco, Marin, and Mateo. The counties that experienced the highest level of defaults were Kings, Sutter and Yuba.

Distressed properties sales made up 53 percent of all re-sales in California during the second quarter of 2011. Foreclosure re-sales accounted for 35.6 percent of the quarter’s resale activity, while short sales made up about 17.4 percent of all re-sales for the quarter.

Foreclosure sales rates varied from a low of 8.7 percent in San Francisco County to a high of 57.4 percent in Madera County.

The average amount of time that it took to foreclose on a home after a NoD was received was 10 months, up from 9.1 months from the first quarter of 2011 and also up from 9.1 months in the same quarter of 2010.

Tags: California, defaults, notice of default, NoD, bank policy changes, legal challenges, politics, median sales price, distressed properties, foreclosures, short sales

Source:
DataQuick

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS