A real estate research firm says California home foreclosures plummeted to an eight-year low in the fourth quarter, thanks to rising home prices.
A survey shows U.S. home prices rose 10.5 percent in March compared with a year ago, the biggest gain since March 2006.
Residents say a blight clean up effort of dilapidated homes in Modesto is making a big impact.
Just about everyone knows a family affected by foreclosure. A West Sacramento homeowner called Kurtis, after a company swooped in, just hours after her home was foreclosed, promising to keep her in her home longer.
DataQuick said Wednesday that default notices totaled a little over 38,000 during the fourth quarter, down 38 percent from the same period of 2011.
More U.S. homes started on the foreclosure path in July, as lenders tackled a backlog of mortgages gone unpaid even as they pulled back on home repossessions.
As if things couldn’t get worse for Stockton, the city now is the top in the nation for foreclosures so far this year.
On the same day that a $25 billion mortgage settlement was announced involving states and five big banks, local homeowners continued to line up at the Sacramento Convention Center looking for help — right now — to avoid foreclosure.
Mortgage default notices in California have dropped in the second quarter of 2011 to their lowest level in four years.
Communities across the nation have made little progress in getting banks to maintain foreclosed properties, and as the ongoing crisis matures and bank-owned homes fall into advanced stages of disrepair, cities and residents are getting desperate.