California Sees Foreclosures Rise
California continues to see many foreclosure notices go out to several counties of the state. They remain in several of the top five spots in the country. La Quinta has seen more than 500 foreclosure filings since January of this year. Other areas of the state are growing in foreclosure filings, but it hasn’t been determined on whether or not they will be able to keep their homes since the borrower and lender hasn’t come to an agreement on terms of the loan.
Indio, California has more than 1300 foreclosures in the first quarter of the year. Indian had 41 foreclosures. The law has required lenders to talk with the borrower before filing a foreclosure to see if there can be something worked out. Sometimes the lender will attempt many times to contact the borrower with no success. In this case, the lender must show proof that they made several attempts to contact the borrower.
There were more than 800,000 foreclosure notices sent out across the United States in the first quarter of 2009. This is an increase of 9 percent from the previous quarter. Riverside, California remains in fifth position for highest foreclosures in the country along with Merced and Stockton also in the same state. Riverside has seen one out of every 28 homes go into foreclosure which is almost 4 percent of all of the homeowners in the area.
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