Foreclosure Activity Declines Hurting Investors

April 2012 Source: ForeclosureRadar.com April 2012 Foreclosure Starts declined across our coverage area wiping out the small gains in new foreclosure filings last month. In California, Notice of Default filings are down 69.8 percent from the peak in March 2009, and 15.8 percent from April 2011. Notice of Trustee Sale Filings, the start of Arizona’s foreclosure

LAW AGAINST SHORT SALE DEFICIENCIES EXPANDED

July 15, 2011 In a major victory for REALTORS®, Governor Brown signed into law today a C.A.R.-sponsored bill, Senate Bill 458, prohibiting a deficiency after a short sale for one-to-four residential units, regardless of whether the lender is a senior or junior lienholder. Effective immediately for transactions closing escrow from this day forward, both senior

West Coast Foreclosure Activity Slowed in February After January’s Spike

03/15/2011 DS News Foreclosure activity last month slowed down along the West Coast, according to the foreclosure tracking firm ForeclosureRadar. “Foreclosure filings dropped to low levels not seen in quite a while,” says Sean O’Toole, CEO and founder of the company. “We will likely see more sluggish foreclosure activity in the months ahead while lenders continue

Investors’ foreclosure appetite grows, headaches arise

02/18/2011 Reuters Investors are flocking to home foreclosure sales in California and other states where banks have rescheduled auctions postponed last year to fix loan servicing flaws. On average, in California, investors are paying 25 percent below market value when winning the auction, versus a 15 percent premium bid of banks that take properties into their

West Coast Foreclosure Sales Climb to Pre-Robo-Signing Levels

02/15/2011 DS News 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 reported Tuesday. “We have not seen this level of activity on the courthouse steps for months,” said Sean O’Toole, CEO and founder of ForeclosureRadar.

Foreclosure Sales Rise Dramatically in Key States

02/15/2011 CNBC Last week a foreclosure report from RealtyTrac showed the process was still completely skewed by the so-called “robo-signing” (faulty paperwork) issues at some of the nation’s largest mortgage servicers that were uncovered last fall. Another report today from ForeclosureRadar.com, which only tracks a few states out West, shows some important micro-moves that will have

The Next Robo-Signing Crisis?

01/25/2011 CNBC It’s the next big shoe to drop in the robo-signing foreclosure scandal. Call it part two. We already know some banks halted foreclosure sales nationwide in October when it was discovered that servicers took short cuts, so-called “robo-signing” in the foreclosure sale process in judicial foreclosure states – about half the country. Now it

FBI looks into bid rigging at courthouse auctions

01/21/2011 San Fransciso Chronicle Foreclosure auctions take place every weekday on the steps of courthouses throughout California. Now the FBI is investigating whether some real estate speculators are illegally rigging bids for these sales. “There have always been rumors of collusion at the courthouse steps,” said Sean O’Toole of ForeclosureRadar.com, a Discovery Bay company that provides