This month’s report features not only a new look, but an important new statistic – Bank Owned (REO) Inventory. By looking at the number of foreclosures the banks have taken back and subtracting those that have since resold, we are able to show the number of foreclosures the banks have held as inventory over time.
Click here to download the September CA Foreclosure Report.
Check out our new video version:
Word today is that out of 500,000 loan mods in progress, only 1,800
have made it out the other end, with the rest either waiting for
documentation or still in their trial period. Looks like we’ll need to
wait to see those HAMP related cancellations or sales
One reason we aren’t seeing very many new REOs is because the banks POSTPONE the trustee’s sale at the last minute. The banks don’t own the home and therefore don’t have it on ANY inventory. They may be waiting for a handout from the government!
There are good companies out there actually trying to help people. But unfortunately there are also bad ones that are trying to take advantage of situations. I purchased 2 forclosures and have been happy with my purchases.