Wednesday, July 15, 2009

Santa Clara County Foreclosures Rising Again

Check out the article by Mercury News real estate reporter Pete Carey about the rising tide of Foreclosures in the Valley. The tide is rising again, somewhat buffered by the Obama plan and other local governmental agencies artificially halting foreclosures. This will stretch out the problem so that the pain will be felt more evenly over the next couple years. Expect a significant impact in listing inventory as we get past September.

1 comment:

lucas law center said...

Foreclosure is when your right to your property is legally terminated usually due to default. This default would simply translate to: the inability of a property owner to pay the mortgage of the property he or she owns.