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California Defaults Lowest in Three Years
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 Lowest in Three Years
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 Lowest in Three Years

February 7, 2011 (Jeff Alan)
mortgage-happy-campers-image
DataQuick reports that during the fourth quarter of 2010, the number of homes in California going into foreclosure was at its lowest level in three years. During the three month period Notice of Defaults (NoDs)were down 16.2 percent from the previous quarter and down 17.5 percent from the fourth quarter of 2009.

The report revealed that a total 69,799 NoDs were reported in the quarter, which was the lowest since the second quarter of 2007.

However, the lowest end of the housing market continued to suffer the most. Homes in zip codes with 2010 median prices of $200,000 or less saw 11.3 default notices per 1,000 homes compared to homes in zip codes with median prices over $800,000 saw 2.8 default notices per 100 homes.

The statewide average for default notices per 1000 homes was 8.

Zip codes with a median price over $800,000 saw a 2 percent quarter to quarter increase in default notices but overall saw a 9.3 percent year over year decline.

“We don’t know how much of the decline is due to less household financial distress and how much is due to shifts in lender and mortgage servicer foreclosure policies,” said John Walsh, DataQuick president. “The level of default activity would certainly be higher if it weren’t for alternative strategies such as short sales or even lengthening grace periods.”

According to DataQuick, mortgages were least likely to go into default in San Francisco, Marin, and San Mateo counties. The probability was highest in Madera, San Joaquin, and Stanislaus counties, which is consistent with the historical norm.

Foreclosure sales continued to increase in the state also. Foreclosures accounted for 37.5 percent of all existing home sales last quarter up from 35.5% from the quarter before.

“The institutions that hold these loans in their portfolios will do whatever it takes to lessen their losses, including waiting. An additional factor is all the turbulence when it comes to the formalities of the foreclosure process,” Walsh added.

Tags: California, foreclosures, housing market, notice of default, home prices, default notices

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.
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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.
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February 7, 2011 (Jeff Alan)
mortgage-happy-campers-image
DataQuick reports that during the fourth quarter of 2010, the number of homes in California going into foreclosure was at its lowest level in three years. During the three month period Notice of Defaults (NoDs)were down 16.2 percent from the previous quarter and down 17.5 percent from the fourth quarter of 2009.

The report revealed that a total 69,799 NoDs were reported in the quarter, which was the lowest since the second quarter of 2007.

However, the lowest end of the housing market continued to suffer the most. Homes in zip codes with 2010 median prices of $200,000 or less saw 11.3 default notices per 1,000 homes compared to homes in zip codes with median prices over $800,000 saw 2.8 default notices per 100 homes.

The statewide average for default notices per 1000 homes was 8.

Zip codes with a median price over $800,000 saw a 2 percent quarter to quarter increase in default notices but overall saw a 9.3 percent year over year decline.

“We don’t know how much of the decline is due to less household financial distress and how much is due to shifts in lender and mortgage servicer foreclosure policies,” said John Walsh, DataQuick president. “The level of default activity would certainly be higher if it weren’t for alternative strategies such as short sales or even lengthening grace periods.”

According to DataQuick, mortgages were least likely to go into default in San Francisco, Marin, and San Mateo counties. The probability was highest in Madera, San Joaquin, and Stanislaus counties, which is consistent with the historical norm.

Foreclosure sales continued to increase in the state also. Foreclosures accounted for 37.5 percent of all existing home sales last quarter up from 35.5% from the quarter before.

“The institutions that hold these loans in their portfolios will do whatever it takes to lessen their losses, including waiting. An additional factor is all the turbulence when it comes to the formalities of the foreclosure process,” Walsh added.

Tags: California, foreclosures, housing market, notice of default, home prices, default notices

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

February 7, 2011 (Jeff Alan)
mortgage-happy-campers-image
DataQuick reports that during the fourth quarter of 2010, the number of homes in California going into foreclosure was at its lowest level in three years. During the three month period Notice of Defaults (NoDs)were down 16.2 percent from the previous quarter and down 17.5 percent from the fourth quarter of 2009.

The report revealed that a total 69,799 NoDs were reported in the quarter, which was the lowest since the second quarter of 2007.

However, the lowest end of the housing market continued to suffer the most. Homes in zip codes with 2010 median prices of $200,000 or less saw 11.3 default notices per 1,000 homes compared to homes in zip codes with median prices over $800,000 saw 2.8 default notices per 100 homes.

The statewide average for default notices per 1000 homes was 8.

Zip codes with a median price over $800,000 saw a 2 percent quarter to quarter increase in default notices but overall saw a 9.3 percent year over year decline.

“We don’t know how much of the decline is due to less household financial distress and how much is due to shifts in lender and mortgage servicer foreclosure policies,” said John Walsh, DataQuick president. “The level of default activity would certainly be higher if it weren’t for alternative strategies such as short sales or even lengthening grace periods.”

According to DataQuick, mortgages were least likely to go into default in San Francisco, Marin, and San Mateo counties. The probability was highest in Madera, San Joaquin, and Stanislaus counties, which is consistent with the historical norm.

Foreclosure sales continued to increase in the state also. Foreclosures accounted for 37.5 percent of all existing home sales last quarter up from 35.5% from the quarter before.

“The institutions that hold these loans in their portfolios will do whatever it takes to lessen their losses, including waiting. An additional factor is all the turbulence when it comes to the formalities of the foreclosure process,” Walsh added.

Tags: California, foreclosures, housing market, notice of default, home prices, default notices

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