In the News
Data aggregator ForeclosureRadar on Tuesday made available a widget that allows real estate brokers and agents to provide information on foreclosed and bank-owned properties through their Web sites -- and keep the leads the search tool generates for themselves.
The search tool is currently available only for California, where ForeclosureRadar collects information on foreclosed properties. But the company expects to roll out its Foreclosure Listing Exchange (FLX) platform in other markets by the end of the year.
They took out adjustable-rate mortgages at the peak of the housing bubble to buy homes they would otherwise not be able to afford. Or they refinanced existing mortgages to take cash out. And now, two or three years later, the day of reckoning is here.
These are not lower- and middle-income borrowers, but more affluent consumers with annual incomes of $100,000 or more who are increasingly being ensnared in the home mortgage crisis.
With FHA, Freddie Mac and Fannie Mae conventional loan limits being raised to nearly $730,000, the housing industry should be breathing a sigh of relief. Or are new conventional loan limits just a band-aid on the huge foreclosure wound?
In a 60 Minutes segment "House of Cards: The Mortgage Mess" that aired on Sunday, January 27, 2008, correspondent Steve Kroft stated "To get a real overview, you need to look at a map from Sean O'Toole's website, ForeclosureRadar.com, which tracks distressed properties in Stockton and other California communities."
Credit crunch starts showing up in the numbers
December foreclosure sales in San Diego County quadrupled year over year, and statewide, sales of new homes in November dropped 55 percent from the previous year, according to three reports released Tuesday that analysts said indicate the state's housing recession will continue to worsen before it recovers.
December sees 45.4 percent jump in notices of default over November
The pace of home foreclosures in the Central Valley and across most of California is quickening, a foreclosure information company says Tuesday.
There was a "gargantuan jump" in Notice of Default filings in December and "we're already observing a record pace of auction sales in January," says ForeclosureRadar of Discovery Bay.
A phenomenon happening in the foreclosure capital of America, reports CNBC's Jane Wells
Monday was a record-breaking day for foreclosures in California.
A staggering 5,238 properties were scheduled to be sold in auctions on courthouse steps across the state, including 145 in Stanislaus County.
"This is the single largest day ever for foreclosures," said Sean O'Toole, owner of ForeclosureRadar, which tracks mortgage defaults throughout the state.
Experts tracking the trouble in the housing market say the number of foreclosures has doubled from what it was last year...
Every single weekday, outside the Stanislaus County court house, they read off addresses and prices of homes at auction...
Courthouse-step auctions offer 1,336 properties in foreclosure -- 17 are sold
Another foreclosure record was set in November as 1,336 properties were offered to the highest bidder on the courthouse steps in Modesto, Merced and Stockton.
Now here's the real surprise: Only 17 of them sold, despite lenders offering deeply discounted prices.
The wave of foreclosures sweeping Santa Clara County has hit its Latino residents the hardest, stripping many first-time buyers of their homes and sending financial shock waves through the South Bay's largest minority community.
October foreclosure sales increased by 40 percent from September with a total of 12,336 properties – with a loan value of $5 billion -- sold at auction statewide, according to figures compiled by ForeclosureRadar.
The Discovery Bay-based company operates a Web site that it says tracks every California foreclosure on a daily basis.
In the foreclosure crisis of 2007, thousands of American families are losing their homes without ever missing a payment. They are renters in houses whose owners default on their mortgages — a large but little noticed class of casualties.
ForeclosureRadar.com provides interactive maps, other tools
Just a couple of years ago, home sales and prices were soaring and home foreclosures were largely out of sight and out of mind in the California real estate market, save for a niche group of investors and real estate agents. Foreclosures in that state are now reaching epidemic proportions and are very much on the radar.
The increased presence of lender-owned homes in the market - known in the banking industry as REOs, for "real estate owned" - is fallout from the real estate fervor that marked the first half of this decade.
Foreclosures are booming across the nation. One California investor has so much business that he's branching out...
Bond investors who financed the U.S. housing boom are starting to pay the price for slumping home values and record delinquencies in subprime loans. They will lose as much as $75 billion on securities made up of millions of mortgages to people with poor credit, says Pacific Investment Management Co...
Foreclosures have picked up speed in San Joaquin County, where the number of homes to hit the auction block has reached more than 12 times last year's levels...
Web site focusing on California market tracks foreclosures online for monthly fee
Standing on the front steps of the Contra Costa County Courthouse in Martinez on a recent weekday, an auctioneer rattled off the vitals about foreclosed homes for sale, covering each one in mere seconds before commencing a rapid-fire bidding process. Each home had an opening bid price -- usually the amount owed on the mortgage, $580,579.61 in the case of one Brentwood house...
ForeclosureRadar, a foreclosure listings and software company, today announced the availability of a video on the iTulip website (www.itulip.com) that shows how to use ForeclosureRadar's exclusive free search to quickly and easily find foreclosures in California. ForeclosureRadar is the only service in California that tracks each and every foreclosure auction throughout the state.
ForeclosureRadar, a foreclosure listings and software company, today debuted the first and only service to actively track every foreclosure auction in the State of California.
Prior to the availability of ForeclosureRadar, it was simply impossible to reliably follow foreclosures beyond the initial auction date. Since California law allows foreclosures to be postponed for up to one year, this created a significant black hole in prior foreclosure listing services. ForeclosureRadar fills that hole by tracking and reporting auction activity daily. To fully leverage this exclusive data, the company offers a comprehensive set of web-based tools for finding, evaluating and tracking foreclosure opportunities.
Discovery Bay, California-based Foreclosure Radar, a foreclosure listings and software company, says the state of California has experienced a 264 percent increase in the number of foreclosed homes sold at auction in just the last six months.
With the Central Valley leading the way, 5,316 homes were lost to foreclosure sales in March in California, according to figures compiled by Foreclosure Radar, a Discovery Bay-based foreclosure listings and software company...
Home foreclosures in the United States being reported by the media likely understate actual foreclosure sales activity, according to Foreclosure Radar, a Discovery Bay-based foreclosure listings and software company.
As of March 6 this year, trustee deeds, which transfer ownership of property in default, total 105 for Santa Cruz, Monterey and San Benito counties, an exponential increase from this time last year, when nine such deeds were recorded. Notices of default and properties in foreclosure have doubled in the three counties overall, with rates in Santa Cruz lower than in Monterey. A default notice is filed after homeowners are delinquent on mortgage payments.

ForeclosureRadar has developed the most comprehensive set of professionally-designed tools for finding, evaluating and tracking the most lucrative foreclosure opportunities.

