“For the first time since January 2007, California did not have the properties with the most foreclosure filings, according to RealtyTrac’s latest foreclosure report.
California received a total of 18,093 foreclosure filings, and Florida had the most with 29,800.
Moreover, California had 4,386 foreclosure starts – the pace at which mortgages enter the foreclosure process – in January, down 62 percent from last month, and 75 percent from a year ago, hitting a seven-year low. The decline was largely due to a fall in notices of default (NOD).
The huge improvement in the state’s foreclosure market has been attributed to the California Homeowner Bill of Rights which became a law on January 1, 2013….”
If you enjoy the content at iBankCoin, please follow us on Twitter
