The LA Times is reporting that the notices of homes going into default judgement in the second quarter fell 2.9% from the first quarter.
This is the lowest foreclosure level process since mid 2007. Economists in general think that the foreclosure debacle may be over but the amount of bank-owned homes will still be sticking around.
This could mean a couple things, either:
- There are fewer homeowners in trouble with foreclosure, or
- The banks are just overwhelmed and processing the foreclosures slower
Another factor that is helping the foreclosures in California is the job market is picking up and has added more than 38,000 jobs in June alone.
If you have any questions regarding your own foreclosure please feel free to contact us. We can help you prevent foreclosure!
Contributor, designer & admin for JohnHart Gazette.
