A recent report by ForeclosureRadar shows unexpectedly mixed foreclosure activity in its coverage area for the month of December.
The California-based firm tracks foreclosures and provides auction updates for Arizona, California, Washington, Nevada, and Oregon.
According to the company, foreclosure starts were down in Arizona, California, and Washington; flat in Nevada; and higher in Oregon. Foreclosure sales were down in Arizona and Oregon; flat in California and up in Nevada and Washington.
According to a statement by Foreclosure Radar, the results were surprising because most of the big lenders service all of the states they cover. The company speculated that the differences in activity across the states could be in part because of the differing laws between states that servicers must abide by.
“Servicers appear to have their hands full and it may be a while before foreclosure activity stabilizes,” said Sean O’Toole, CEOand founder of ForeclosureRadar. “While it seems unlikely at the moment, it is our hope that 2011 will bring clarity to the foreclosures process for all involved.”
In California notice of default filings declined 16.7 percent in December, and notice of trustee filings rose 1.5 percent. Foreclosure sales dropped .07 percent. The time it took investors to resell properties purchased at auction is currently 157 days on average for the state.
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