CA Foreclosure Activity Back up

Lenders Push Delinquent Loans More Aggressively

According to DataQuick News "After dropping to a three-year low in the second quarter of this year, the number of California homeowners being pulled into the foreclosure process snapped back to prior levels over the last three months."

A total of 71,275 Notices of Default (NoDs) were recorded at county recorders offices during the third quarter. That was up 25.9 percent from 56,633 for the prior three months, and down 14.4 percent from 83,261 in third-quarter 2010, according to San Diego-based DataQuick. "The way it looks right now, it's reasonable to expect default filings to run at a somewhat higher level than we saw earlier this year. Obviously, some lenders and loan servicers have begun to plow through their backlogs of delinquent loans more aggressively," said John Walsh, DataQuick's president.

The fact that lenders are pushing delinquent loans in the market, is good news for value investors with cash who are willing to pick up these assets at very low valuations. Markets often over-react to bad news and excess supply, creating an opportunity to invest in distressed properties at very favorable terms. Floyd Associates will continue to identify and acquire such properties.

To find out if our real estate investment strategies are right for you, please contact us by email at info@floyd-associates.com or by phone at +1 (310) 300-0890.

To read more about Floyd Associates please visit www.floyd-associates.com.