Foreclosure Filings Down 3%

Foreclosure activity slipped 3 percent in November when compared to the previous month, but filings at various stages of the process showed starkly different movements, according to RealtyTrac’s latest market report. Scheduled auctions hit a nine-month high following the default surge that began in August. At the same time, RealtyTrac says REO activity is at …

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A Predeveloped Balboa Peninsula

In 1923, a syndicate of Pasadena men purchased all of the land on the easterly extreme of the peninsula from Edna Ferguson, the widow of Joe Ferguson.  The property was then subdivided, a map filed in May 1923, and public improvements installed during the winter of 1923-1924, after which an intense selling campaign began. These …

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HUD’s Inventory of REOs More Than Double a Year Ago

HUD has released a report detailing recent business activity at the Federal Housing Administration (FHA). It shows that the federal agency’s inventory of REO homes has ballooned as sales from this portfolio fell sharply during the final months of 2010 and early part of this year. The number of repossessed single-family properties held at the …

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California Mortgage Defaults Hit Three-Year Low

The number of California homeowners entering foreclosure dropped to its lowest level in three years during the second quarter of 2010, according to the San Diego-based real estate research firm MDA DataQuick. Lenders filed a total of 70,051 notices of default (NODs) with county recorder offices during the April-to-June period, DataQuick reports. NODs represent the …

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