Record 8,000 mortgages face foreclosure

OCRegister ^ | 8/29/09 | Mathew Padilla

[Kartographer]

There were 8,346 outstanding foreclosure auction notices in Orange County at the end of July, up 12% from June and more than double the year ago total, reports ForeclosureRadar.com.

I previously blogged the July total (it has been revised slightly), but I now have a chart showing the rise in active notices of trustee’s sale (NTS) since the credit crunch got serious in September ‘06 (click on it twice for larger image.). An NTS is filed on a home loan after a notice of default and it announces a property will face a foreclosure auction to pay off debt owed.

[Kartographer]

The NEW ballad of Jed Clampett
Come and listen to a story 'bout a man named Jed Poor oil entrepreneur barely kept his family fed Then one day he was working for some food, And up through the crowd come a bumbling fool (Arnold that is, RINO gold, more taxes please)

Well the first thing you know old Jed's taxes are to much to bear, Kin folk said Jed move away from there! Said California is no place for you to be So they loaded up the truck and they moved from Beverly (go’n back to the Hills they are, fish’n holes, country and western stars)

Well now it's time to say goodbye to Jed and all his kin They would like to thank you folks for kindly dropping in You're all invited back again to their new locality To have a heaping helping of their hospitality (Redneck Hillbillies, is what the press call 'em now, Clingers of bibles and guns and to Obama no bow! Nice folks Y'all come back now, ya hear?)

[dragnet2]

Things must be slow in New Mexico...

Orange County home prices at 11-month high

August 28th, 2009

Our first glance at August homebuying finds local buyers willing to pay even more, bringing the Orange County median selling price up to a level last seen 11 months ago!

http://lansner.freedomblogging.com/2009/08/28/oc-home-prices-at-11-month-high/34883/

[SierraWasp]

Well, I guess with all the fires in CA, this could soon change from a forclosure crisis to a fire insurance crisis, dontcha know??? (I was just thinkin about another “moral hazzard, dontcha know???)

[budwiesest]

And here I was thinking someone flicked a cigarette out the window in Auburn. Notice how quickly that fire spread? Yikes!

Conditions were ripe though, I mean dry and windy, not up-side down on a loan. But, then again?

[SierraWasp]

Yeah, Mrs. Waspman and I rushed over there to get pictures on her big Nikon SLR didgetal. She was up till 4:AM tryin to up-load ‘em to Channel 13. Then they never posted any of ‘em!!!

[budwiesest]

up-load ‘em to Channel 13

Funny, that's the channel I was watching. Sad to see so many homes destroyed so quickly (one house was spared on a street- looked like a miracle). Some left so fast they didn't have time to get all their pets out- that wind was really gusting.

I saw the smoke as I was driving home and thought it was much closer that it actually was (I thought it was just over the Loomis ridge near Penryn). Thick, black smoke that looked like a mini-volcano taking off.

[SeattleBruce]

bttt

[LuvFreeRepublic]

Self ping for later.

[Hootowl99]

I'm in the process of buying a house now and while doing the home search thing, considered buying several foreclosed residences. What a joke! The banks are normally taking 3+ months to respond to an offer then if their response is not agreeable to the buyer to where a counter offer would normally be the case, another round of time gets incurred.

My fearless prediction is that banks are going to be sitting on their foreclosed properties a long time unless they can get their bureaucracy streamlined.