Free Mortgage Loan Modification Tools

Were 10,000 California Foreclosures actually Canceled?

Under intense pressure to help more people stay in their homes,mortgage lenders canceled far more scheduled foreclosures in November than in the previous month, according to a report Tuesday.

A total of 10,469 scheduled foreclosures were canceled in November throughout California, up 20 percent from 8,741 in October, according to ForeclosureRadar, a Discovery Bay company that tracks foreclosureactivity daily. In Santa Clara County, 337 were canceled, up from 269 in October.

The raw numbers may actually understate the scale of the increase, said Sean O’Toole, ForeclosureRadar’s founder. There were 416 cancellations each business day in October, and 581 each business day in November. That was an increase of 40 percent on an average daily basis because there were three fewer business days in November than October.

Read more from Mercury News

Related posts:

  1. CA Foreclosures Improve; US Deteriorates During July, foreclosures were filed on 4 percent more U.S. properties than in June, RealtyTrac reported. But in California, which...
  2. Delinquency Improves, Though Foreclosures Worse Home-loan delinquency of at least 90 days, including foreclosures, fell 12 basis points in July, Lender Processing Services Inc. reported....
  3. New York Foreclosures Rise an Alarming 85%! New Yorkers at risk of losing homes surges 85% in month of November With city unemployment at 10.3%, the number...
  4. OCC/OTS Report: Delinquencies Decrease. Foreclosures Rise. Loan Mods Re-Defaulting For the first time in at least 21 months, the delinquency rates for all categories of mortgages - prime, Alt-A,...
  5. OCC/OTS Report: Delinquencies Decrease. Foreclosures Rise. Loan Mods Re-Defaulting For the first time in at least 21 months, the delinquency rates for all categories of mortgages - prime, Alt-A,...

Successfull Loan Modifications

Successfull Loan Modifications
  • avatar 1
    5 year ARM reduced from 12.75% variable to 6% fixed
    submitted by Tom Green from Dallas, TX
  • avatar 1
    5 year 12.37% ARM to 8.25% + $50,000 principal reduction
    submitted by Chris Fredrickson from Rancho Santa Fe, CA
  • avatar 1
    15 year variable 9.07% modified to 6.12% fixed 40 year
    submitted by Anonymous from San Diego, CA
  • avatar 1
    30 year variable 8.25% modified to 5.875% fixed 30 year
    submitted by Jodi Scheld