 |
| Daren Blomquist |
IRVINE, CA, Feb. 14, 2013 — RealtyTrac® (www.realtytrac.com), the leading online
marketplace for foreclosure properties and real estate data, today released its
U.S. Foreclosure Market Report™ for January 2013, which shows foreclosure filings
— default notices, scheduled auctions and bank repossessions — were reported on
150,864 U.S. properties in January, a decrease of 7 percent from the previous
month and down 28 percent from January 2012.
The report also shows one in every
869 U.S. housing units with a foreclosure filing during the month
“The U.S. foreclosure landscape in January was profoundly
altered by the effects of new legislation that took effect in California on the
first of the year,” said Daren Blomquist, vice president at RealtyTrac.
“Dubbed the
Homeowners Bill of Rights, this legislation extends many of the principles in
the national mortgage settlement — including a prohibition on so-called dual
tracking and requiring a single point of contact for borrowers facing foreclosure
— to all mortgage servicers operating in California.
“ In addition the new law imposes fines of up to $7,500 per
loan for filing of multiple unverified foreclosure documents.
"As a result, the
downward foreclosure trend in California accelerated into hyper speed in
January, decisively shifting the balance of power when it comes to the nation’s
foreclosure activity.”
For a complete copy of the company’s news release, please
contact:
Jennifer von Pohlmann
949.502.8300, ext. 139
Ginny Walker
949.502.8300, ext. 268
Data and Report Licensing:
Data Sales Department
800.462.5193
No comments:
Post a Comment