Foreclosure process will be slow this year, firm predicts
February 11th, 2012
where the property is sold for less than what was owed on the mortgage, or because of trial loan modifications. Banks also rescheduled some auctions.
Just over 2,200 homeowners in Santa Clara, Contra Costa, Alameda and San Mateo counties received notices of default in January, the first step in the foreclosure process. That was down from nearly 2,950 a year ago.
Nearly 1,500 homes in the four counties were sold in January to third-party investors who paid cash at courthouse auctions, or were taken back by banks after they failed to find a buyer.
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Flag lots are found in most Los Angeles neighborhoods and are fairly common in certain communities such as La Canada. Many La Canada homeowners had large parcels of land which were subdivided to make smaller lots which were then sold. Ben