Lender Rates

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Good morning. We have yet another batch of foreclosure numbers (we err on the side of more information). Foreclosure Radar’s latest report shows that 1,055 foreclosed houses were auctioned off in L.A. in June.

A couple of interesting tidbits from Foreclosure Radar’s numbers:
-- Within the state of California, Los Angeles County ranks very low in foreclosure auctions per capita: 34th among 52 counties.
-- Riverside County is first, meaning worst, in foreclosure auctions per capita.
-- The property ‘returned to lenders’ is adding up: ‘Since Jan. 1, a total of 29,696 California properties have been returned to the lender for an astonishing total loan value of $12 billion. This is unprecedented,’ says Foreclosure Radar’s Sean O’Toole. ‘In June alone 6,552 properties were returned to the lender for a total of $2.69 billion.’
-- Lastly, the report shows that those courthouse ‘auctions’ of foreclosed properties are not drawing many bidders -- more than 90% of the homes auctioned are priced so high that the only bid is from the lender.

Comments? Questions?
Hat tip: Patrick.net
Photo Credit: L.A. Times

Foreclosure Radar’s http://biz.yahoo.com/bw/070710/20070710006187.html?.v=patrick.net