According to www.dqnews.com, there were 54,615 Notices of Default in California for 2012 Quarter 2 and 49,026 for 2012 Quarter 3. Extrapolating this data, means that about 200,000 NODs were sent out in 2012.
The same article states "While 1.48 million of California's roughly 8.71 million houses and condos have been involved in a foreclosure proceeding the past five years, 847,067 have gone through the whole foreclosure process. The other 633,000 were either sold, or the payments were brought current." This means 17% of properties have started the foreclosure process, is the last five years. My question is, "If you take all the houses and condos in California, how many of them were either in preforeclosure (had been issued a Notice of Default) or foreclosure status sometime during 2012?"
How can we protect ourselves from getting in over our head in debt? Whose responsibility is it to help Californians avoid preforeclosure and foreclosure?
I think education is the key. However, knowledge is not power, applied knowledge is power. Thanks for reading and until next time, happy reading!
This post was reposted from http://finlit.biz/debt/how-many-homes-were-in-preforeclosure-or-foreclosure-status-in-california-in-2012/, originally written on January 21st, 2010.
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