The Foreclosure Onslaught Continues

Submitted by Rich Toscano on April 14, 2009 - 5:01pm

(Note: The KPBS These Days appearance is archived here for anyone interested).

The number of San Diego properties entering foreclosure hit an all-time high last month, as illustrated by the blue line in the following graph:

In the month of March, 4,260 homes received default notices, which are nastygrams informing delinquent borrowers that they are in foreclosure.

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Submitted by jpinpb on April 20, 2009 - 7:33am.

There is a good flowchart here that shows timeline on the whole process from nonpayment to bank selling. I don't think it factors in anyone who tries to redeem or is doing a short sale, though.

Submitted by sdrealtor on May 4, 2009 - 10:56am.

Thats actually a pretty good flowchart and the hypothesis of a Fall slaughter is not unreasonable. It will be interesting if it actually comes to pass. I have several clients that would be very pleased if it does but I have a feeling something will get in the way of ti happening in as straight forward a manner as the author proposes.

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