California foreclosure “surge”: Up 327% from ’07 levels

[Ex-SD]

The number of California homes lost to foreclosure in the first quarter surged 327% from year-ago levels — reaching an average of more than 500 foreclosures per day — DataQuick said in a report warning that the widening foreclosure problem could “spread beyond the current categories of dicey mortgages, and into mainstream home loans.”

From DataQuick’s report on California foreclosures in the first three months of 2008: “Trustees Deeds recorded, or the actual loss of a home to foreclosure, totaled 47,171 during the first quarter. … Last quarter’s total rose 48.9 percent from 31,676 in the previous quarter, and jumped 327.6 percent from 11,032 in first quarter 2007.” That translates into 517 foreclosures every day in the first quarter of 2008.

Complete story here: http://latimesblogs.latimes.com/laland/2008/04/california-fo-1.html

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[Fearful]

The 1Q08 run rate for California foreclosures is three times the prior bubble – crash peak, in 1996.

[cr]

Take a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html

The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.

We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.

[cr]

Take a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html

The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.

We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.

[cr]

Take a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html

The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.

We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.

[cr]

Take a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html

The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.

We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.

[cr]

Take a look at rates compared to then and now: http://www.thompsonsrealty.com/Mortgage_Rate_History/page_1708965.html

The last peak at 1989 rates were higher than they are today and dropped pretty much until about 1994. Then they went up for 2 years only after which we hit bottom.

We starting a lot lower now, the prime can’t go much lower, but today mortgage rates are actually going up. Makes oyu wonder if anything can be done.

[gnosis]

Does this surprize anyone? One look at the morgage reset calandar tells the story now and into the next 2-3 yrs. This is the perfect economic storm and the storm is just starting to howl. Today’s shock story will be ho-hum news in 2 years. Batten down your hatches kiddies. It’s a noreaster and were all in for it.

[gnosis]

Does this surprize anyone? One look at the morgage reset calandar tells the story now and into the next 2-3 yrs. This is the perfect economic storm and the storm is just starting to howl. Today’s shock story will be ho-hum news in 2 years. Batten down your hatches kiddies. It’s a noreaster and were all in for it.

[gnosis]

Does this surprize anyone? One look at the morgage reset calandar tells the story now and into the next 2-3 yrs. This is the perfect economic storm and the storm is just starting to howl. Today’s shock story will be ho-hum news in 2 years. Batten down your hatches kiddies. It’s a noreaster and were all in for it.

[gnosis]

Does this surprize anyone? One look at the morgage reset calandar tells the story now and into the next 2-3 yrs. This is the perfect economic storm and the storm is just starting to howl. Today’s shock story will be ho-hum news in 2 years. Batten down your hatches kiddies. It’s a noreaster and were all in for it.

[Author]

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