Reports are out and last month was a bad month for foreclosures in the west. California, Arizona and Nevada had the highest foreclosures in the nation.
In California had 1 in 416 homes receiving foreclosures notices in August, 2008, way up when compared to August 2007.
If you are receiving a foreclosure notice you need to act immediately and contact your mortgage company and try to get some relief, there are reports that some banks/mortgage companies are lowering rates. After the Fannie Mae and Freddie Mac failure, interest rates are dropping and continue to drop. The economy is in real danger of a serious recession.
If you are investor, there are various ways for you to approach buying homes in foreclosure, from contacting the owner, bank, realtor(many realtors are specializing in foreclosures/bank owned homes), you can also use sites like RealtyTrac, Foreclosure.com, RealtyStore, ForeclosureTrackers, and others. There are dozens of sites for regional foreclosures as well.
If you have a relationship with a bank work with them to see what then have to offer.
Showing posts with label california foreclosures. Show all posts
Showing posts with label california foreclosures. Show all posts
Friday, September 12, 2008
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