New law credited with 'eye-popping' drop in California foreclosures
via Carlos, Occupy Fights Foreclosures
"CA HOMEOWNER BILL OF RIGHTS WATCH
We are keeping a close watch to the new CA Homeowners Bill of Rights. Two months into the new law and we are discovering major violations of the law by the banks. Including, single point of contact, auction sales, modification process broken, and recording of fraudulent documents in courts and county recorders offices, just to name a few. FRAUD IS THEIR BUSINESS MODEL!"
Foreclosure activity in California and Ventura County took a dramatic tumble in January as the state’s new Homeowner Bill of Rights kicked in, market researcher RealtyTrac reported Wednesday.
There were just 354 foreclosure filings — default notices, scheduled auctions and bank repossessions — in Ventura County, according to the Irvine-based firm. That number is down 69 percent from January 2012 and 35 percent from December.
California had 4,386 foreclosure starts last month, down 62 percent from December and nearly 75 percent from January 2012.
“These numbers are eye-popping,” said Dean Wehril, a Sacramento-based housing analyst with John Burns Real Estate Consulting.