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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Get ready for the deluge Posted by CC in OC on May 14, 2009 at 1:27 PM In Reply to: Delays are caused by new legislation adding more time to foreclose (NT) posted by Rick, the Probate Guy on May 12, 2009 at 6:56 AM In a few weeks California's 90-day foreclosure moratorium will expire and then servicers can pull the ripcord and start filing the appropriate paperwork to take over the real estate securing delinquent loans. According to ForeclosureRadar.com, in Orange County (CA) mortgage "notices of default" totaled 2,002 in April, a 21% decline from the same month a year ago, and 23% from March. Lenders foreclosed on 573 houses and condos, down 49% from a year ago but up 52% from March. As The Orange County Register pointed out, banks typically file a notice of default (NOD) after a borrower misses three or more monthly payments. NODs initiate the foreclosure process. Orange County was home to many subprime lenders, including the granddaddy of them all: Ameriquest Mortgage, the brainchild of the late Roland Arnall. Follow Ups: confusion on timeline Bill M 2:12 PM, 05/16/09 (1) Yep, I was scratching my head about that post, too. (NT) Rick, the Probate Guy 1:12 PM, 05/17/09 (0) Post a Followup: Name : E-Mail : Subject : Comments: : In a few weeks California's 90-day foreclosure moratorium will expire and then servicers can pull the ripcord and start filing the appropriate paperwork to take over the real estate securing delinquent loans. According to ForeclosureRadar.com, in Orange County (CA) mortgage "notices of default" totaled 2,002 in April, a 21% decline from the same month a year ago, and 23% from March. Lenders foreclosed on 573 houses and condos, down 49% from a year ago but up 52% from March. As The Orange County Register pointed out, banks typically file a notice of default (NOD) after a borrower misses three or more monthly payments. NODs initiate the foreclosure process. Orange County was home to many subprime lenders, including the granddaddy of them all: Ameriquest Mortgage, the brainchild of the late Roland Arnall. [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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