sudden drop in trust deed sales

Submitted by mario from CA - 07/02/2010 - 7:03am

It seems that in the last 30 days properties that actually go to sale have dropped by more than 90% yet there are more properties in foreclosure than ever before. It doesn't make sense. What are the banks doing with their inventories and how can they take possession without forclosure?

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Comments

Submitted by Michelle - 07/02/2010 - 4:24pm

Hi Mario,
We are certainly in unprecedented times. Delinquencies are up, NOD and NTS filings are down and we continue to see postponements and cancellations in record numbers. This is undoubtedly a product of the various foreclosure prevention programs or is the result of the lenders using foreclosures to manage their balance sheets. We continue to watch these numbers and address this in our CA Foreclosure Report. http://www.foreclosureradar.com/foreclosure-report

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