California Homeowner Bill of Rights Summary
California is only halfway through the foreclosure crisis, with more than 670,000 California households at risk of foreclosure: Data from CRL’s report, Lost Ground, 2011 show that 9.3 percent of all loans originated between 2004 and 2008 – 581,000 – have already resulted in completed foreclosure, but that another 8.9 percent (549,000) were at immediate risk of foreclosure. At the end of 4Q 2011, more than 454,000 mortgage loans – or more than 1 in 14 – were past due (but not yet in foreclosure), while almost 217,000 loans were in the foreclosure process, bringing the total California loans at risk to approximately 671,000.
Published: June 22, 2012
Categories: Mortgage Lending