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Loss Mitigation

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Foreclosures Rebound in CA, as Legislative Impact Passes 

Dec 17, 2008By

It appears that California is now following in the footsteps of Massachusetts. Despite recent legislation in the state that added 45 days to the borrower notice period for defaults, impacting foreclosure activity during Sept. and Oct., new data from ForeclosureRadar finds that November saw significant activity increases across all stages of foreclosure. From October to November, filings of Notices of Default increased 28 percent; Notices of Trustee Sales increased 10 percent, and properties sold at auction increased by 14.8 percent.