Industry NewsMarkets & Economy

Loan mods, short sales appear to gain traction in California

ForeclosureRadar: Cancellations up 174% year-over-year
Published on May 11, 2010

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by CareyBot

Foreclosure cancellations in California skyrocketed 174 percent year-over-year in April, according to a report by foreclosure data company ForeclosureRadar.

At the same time, foreclosure filings in the Golden State fell month-to-month for the first time since January. Notices of default fell 41.2 percent year-over-year and 16 percent month-to-month, while notices of trustee sale were down 3.1 percent year-over-year and 10.3 percent month-to-month.

Cancellations jumped 11.4 percent month-to-month and 174.4 percent since April 2009.

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