January 2009 - Foreclosure Filings in the Inland Empire
February 20, 2009
Because foreclosures are the focus of seemingly everyone, I am sharing the numbers of filings beginning with the month of January 2009. NOD stands for Notice of Default and is the first document that is filed by the trustee of a deed of trust for the beneficiary(lender) when a borrower has fallen behind in the mortgage payments. Once it is recorded, the borrower has 90 days to bring the loan current. After the 90 days have elapsed, the trustee can then record a Notice of Trustee Sale (NOT). This must be published in the newspaper 3 times during a 21 day period.
The Notice of Trustee Sale will contain the date that the property will be sold in a public auction.The borrower can still bring the loan current or pay it off in its entirety. After the 21 days, the trustee can sell the property for the amount owed. The lender has the first bid for the amount owed and if no one else bids, the property then goes back to the lender, the foreclosure is complete and the property becomes an REO (Real Estate Owned).
Here are the filings:
Banning.................NOD/52............NOT/49............REO/33
Beaumont.............NOD/99............NOT/55............REO/45
Bloomington.........NOD/56............NOT/44............REO/21
Calimesa,,,,,,,,,,,,,,,,NOD/7..............NOT/7..............REO/5
Colton....................NOD/95............NOT/67............REO/48
Fontana.................NOD/515..........NOT/358.........REO/243
Grand Terrace.....NOD/20............NOT/11............REO/4
Highland................NOD/106.........NOT/51............REO/40
Loma Linda...........NOD/29...........NOT/13............REO/2
Mentone................NOD/16...........NOT/14.............REO/12
Moreno Valley......NOD/529.........NOT/367..........REO/243
Redlands...............NOD/69............NOT/36............REO/29
Rialto.....................NOD/247..........NOT/48............REO/94
Riverside..............NOD/677...........NOT/408.........REO/234
San Bernardino....NOD/477...........NOT/312.........REO/241
Yucaipa.................NOD/64.............NOT/41...........REO/23
I will be watching to see if the moratorium that the government has asked for will impact the future numbers.
Because foreclosures are the focus of seemingly everyone, I am sharing the numbers of filings beginning with the month of January 2009. NOD stands for Notice of Default and is the first document that is filed by the trustee of a deed of trust for the beneficiary(lender) when a borrower has fallen behind in the mortgage payments. Once it is recorded, the borrower has 90 days to bring the loan current. After the 90 days have elapsed, the trustee can then record a Notice of Trustee Sale (NOT). This must be published in the newspaper 3 times during a 21 day period.
The Notice of Trustee Sale will contain the date that the property will be sold in a public auction.The borrower can still bring the loan current or pay it off in its entirety. After the 21 days, the trustee can sell the property for the amount owed. The lender has the first bid for the amount owed and if no one else bids, the property then goes back to the lender, the foreclosure is complete and the property becomes an REO (Real Estate Owned).
Here are the filings:
Banning.................NOD/52............NOT/49............REO/33
Beaumont.............NOD/99............NOT/55............REO/45
Bloomington.........NOD/56............NOT/44............REO/21
Calimesa,,,,,,,,,,,,,,,,NOD/7..............NOT/7..............REO/5
Colton....................NOD/95............NOT/67............REO/48
Fontana.................NOD/515..........NOT/358.........REO/243
Grand Terrace.....NOD/20............NOT/11............REO/4
Highland................NOD/106.........NOT/51............REO/40
Loma Linda...........NOD/29...........NOT/13............REO/2
Mentone................NOD/16...........NOT/14.............REO/12
Moreno Valley......NOD/529.........NOT/367..........REO/243
Redlands...............NOD/69............NOT/36............REO/29
Rialto.....................NOD/247..........NOT/48............REO/94
Riverside..............NOD/677...........NOT/408.........REO/234
San Bernardino....NOD/477...........NOT/312.........REO/241
Yucaipa.................NOD/64.............NOT/41...........REO/23
I will be watching to see if the moratorium that the government has asked for will impact the future numbers.
posted by shirley harry at 8:14 AM
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