Foreclosures see increase in August. Rates still low
Posted in Uncategorized by cliffaberson on September 19, 2011
In a sign lenders may be starting to push through more foreclosures, California had a 55% increase in notice of default filings in August. Lenders had been delayed on many foreclosure filings due to robo-signing and documentation problems.
Default notices rose to a nine month high to 78,880 in August.
228,098 properties received foreclosure filings nationwide in August.
As the foreclosures start hitting the market it should increase the amount of deals home buyers are able to get. And with loan rates still near historic lows it makes it an awesome time to buy for those ready.
Latest rates:
30yr – 4.18%
FHA 30yr – 3.84%
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