Secret reason why short sales are dropping in Temecula CA.
Foreclosures have dropped 29% here in California.
I read this snippet of news today and I think part of the drop is due to the fact that lenders now must contact sellers in foreclosure and give them one point of contact. A person they can talk to,not get pasted around in a very complex system and get lost and confused and foreclosed on.
Some of the largest drops in foreclosure activity is attributed to recent laws adopted in some states — like Nevada, Oregon, and California — that have added requirements for lenders to meet before they can foreclose on home owners.