Mortgage Delinquency Rates Predict More Foreclosures Ahead

SAN FRANCISCO, Calif. (SEND2PRESS NEWSWIRE) — The real estate experts at are keeping a close watch on the news revolving around foreclosures across the U.S.; they are working to keep their news fresh and their listings hot. Keeping a close eye on the California real estate market, BankForeclosuresSale reports that, statewide, foreclosures have increased for the third-consecutive month.

And, based on mortgage delinquency rates, more foreclosures are expected.

For example, an article in “Builder,” a magazine for the home building industry, reported that an estimated 13.9 percent of Stanislaus County, CA homeowners with mortgages are 90 days or more behind on their payments, according to First American CoreLogic. The delinquency rate is 17.4 percent in Merced and 14.5 percent in San Joaquin. Nationwide, the rate is 6.5 percent.

In Oakland County, CA, residential foreclosures soared to 940 in June, putting the county on track to break the 8,000 mark for the second straight year in a row.

Foreclosures put downward pressure on prices because lenders sell them at steep discounts to get them off their books.

The real estate professionals at BankForeclosuresSale predict that foreclosures will continue to rise into the late summer. This information is based on the number of default notices and delinquency rates.

“So, while these numbers are evidence that the housing market remains in trouble, there is a bright side,” Simon Campbell, Business Analyst for says. “There have never been more bargains available than there are today. First-time home buyers and real estate investors have so many choices at their fingertips.”

It is now possible for people to find their dream home while saving thousands of dollars. And, BankForeclosuresSale is working to ensure that its Web site is up-to-date, easy-to-use and reliable. Its team of real estate professionals works with customers to find the deal that is right for them.

BankForeclosuresSale is a leading online foreclosure listings service with more than one million listings that provides information and advice to real estate investors of all skill levels – from beginners to experienced veterans and everyone in between.

For more information, visit: .

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News Source: BankForeclosuresSale


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