Tag Archives: ForeclosureRadar

With foreclosure activity somewhat erratic in recent months along the country's West Coast, time-to-foreclose remains the one true constant in that it continues to increase across the board. ForeclosureRadar has released its monthly report on March foreclosure activity for its coverage area of the five West Coast states. The foreclosure timeline in Nevada extended by more than 16 percent in one month's time to 322 days. In California, the increase was smaller at 4 percent, bumping the state's timeline up to 302 days.

Foreclosure activity last month slowed down along the West Coast, according to the tracking firm ForeclosureRadar. The company monitors filings and auctions in Arizona, California, Nevada, Oregon, and Washington, and said the numbers were down across the board. Foreclosure sales saw a similar decline in the firm's coverage area, and bank-owned inventories were mostly flat, suggesting fewer REOs were sold. ForeclosureRadar's CEO says activity should continue to be sluggish for a while.

Foreclosure auction sales in states along the West Coast have bounced back to levels not seen since robo-signing moratoriums went into effect last fall, the California-based tracking firm ForeclosureRadar reports. The company's coverage area includes the states of Arizona, California, Nevada, Oregon, and Washington. ForeclosureRadar says it recorded ""significant increases"" in activity on the courthouse steps in all five states during the month of January, with foreclosure sales jumping more than 50 percent in most areas.

A recent report by ForeclosureRadar shows unexpectedly mixed foreclosure activity in its five-state coverage area for the month of December. The California-based firm found that foreclosure starts were down in Arizona, California, and Washington; flat in Nevada; and higher in Oregon. Completed foreclosure sales numbers were also mixed across the West Coast states. ForeclosureRadar says the disparity in activity could be due in part to the differing laws between states.

New data from ForeclosureRadar shows that though there has been no major drop in delinquencies in the West Coast states of Arizona, California, Nevada, Oregon, and Washington, foreclosure starts have fallen to 2008 levels. The company's report deduces that the drop in foreclosures is due to robo-signing issues and the moratoriums that followed the controversy. Notice of default filings in November were down 9.3 percent in California, while notice of sale filings dropped a stunning 31.7 percent in Washington.

The headline foreclosure news for the past couple of months has been the suspension of foreclosures by a handful of lenders after robo-signers and procedural deficiencies were uncovered in their servicing shops. The foreclosure tracking firm ForeclosureRadar says while the announcements initially focused on 23 judicial foreclosure states outside of the company's coverage area, GMAC, PNC, and Bank of America all later expanded their suspensions, and the impact is now beginning to show up in non-judicial West Coast states.

ForeclosureRadar has released its September market report, and the company's data shows that both foreclosure sales and inventories of bank-owned properties are on the rise throughout the West Coast states of Arizona, California, Nevada, Oregon, and Washington. In Nevada, for example, foreclosure sales increased by nearly 40 percent from August to September, with the majority going back to the bank and swelling the REO supply even further.

California's notice of default filings, the first step in the state's foreclosure process, rose for the fourth successive month in August, jumping another 16.6 percent, according to the locally based tracking firm ForeclosureRadar. The company's latest data on the Golden State also show that fewer distressed homeowners are finding foreclosure relief, with cancellations down and foreclosure sales up. ForeclosureRadar has also expanded its coverage starting this month to include data on Arizona, Nevada, Oregon, and Washington.

Foreclosure activity in California was again mixed last month, according to ForeclosureRadar. The company's latest report shows that foreclosure filings and cancellations dropped in July after rising the month before, while foreclosure sales rose. But even with the wrong indicators heading upward and a large ""shadow inventory"" of properties in default, ForeclosureRadar says it doesn't expect the foreclosure picture in the Golden State to worsen any time soon, namely because it currently takes lenders 226 days to complete the process.