[quote=SK in CV][quote=CA renter]This is very good news for the California housing market. It means we can finally get on with the foreclosures so that we can finally allow the market to bottom. This is the only way a sustainable recovery can come about; everything else that’s been done so far has been a tremendous waste of time and money.
Let’s get this over with, already![/quote]
Other than a couple of very short delays, the foreclosure process problems that servicers face in other states isn’t something that has had much of an effect on foreclosures in California. There are some top-down decisions that lenders may make (and may have already made) that will speed up the process. This isn’t one of them.[/quote]
But we’ve heard of a number of cases where they’ve tried to challenge the trustees/servicers on the title issues. It sounds like this removes one more possible obstacle (however legitimate or not) on the way to foreclosure.
What are you seeing WRT speeding up the process?
We’ve noted a number of homes in SD and LA that have already been forclosed on and have been sitting empty (or not) for 6 months++++. Do you have any idea what the delay is, other than just sitting on the inventory in order to artificially reduce supply? I thought it might be related to possible problems with title, but don’t know for sure what they are doing.
