Thursday, July 26, 2012

A Few Notes on Foreclosure

But first, today's is J's second to last day of work.  After tomorrow, it's all over, and he can devote himself to taking care of me and the cats.  I will have instant HTML help when I need it.  I will eat fancy dinners.  I will be taken out more often.  Joy!  Joy!

But moving right along to foreclosures.  The numbers in California are falling.  One should hope so, given how many houses that have already been foreclosed.  However, my Sitemeter is up a bit on the Tenants & Foreclosure blog.  Now, it's too early to note a trend, and it's nothing like the substantial increase in traffic after the robo-signing scandal last year.  (My hits doubled in a month.)  In addition, the "cash-for-keys" page is the most popular, both as entry and exit page.  This always indicates homeowners, as they aren't interested in tenants' rights or "just cause" eviction.  What I suspect is happening is that the lenders seek to beat the new homeowner protections that will take effect in January, and are pushing through as many foreclosures as possible.  The number to watch is not the Notice of Default (the first step), but the Notice of Trustee Sale (the beginning of the end), as lenders will move to oust homeowners who've been "dual-tracked" and have emptied out their savings accounts, retirement accounts and the like, and are out of cash.  This may give tenants a bit of a reprieve, as investor-owned properties aren't covered under the new legislation.

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