California Foreclosures Sales & Short Sales Report From Foreclosure Radar - March 2010

According to Foreclosure Radar, California foreclosures sales in March 2010 jumped over 92% over March 2009. Why so much? At this time in March 2009, many lenders chose to delay the foreclosure process in anticipation of the government's Home Affordable Modifications Program (HAMP). HAMP gives some distressed homeowners a chance to modify their loan in hopes of saving their home. A HUGE thing to note is that the amount of foreclosures cancellations hit record levels. Why so many cancellations? This can most likely be attributed to short sales and loan modifications. The report also mentioned the increase in the length of time involved in the foreclosure process.  The time to file a Notice of Trustee Sale has gone up by over 40 days.  This will lengthen the foreclosure process.An extended foreclosure does provide more time for distressed homeowners to try to negotiate a short sale or see if they qualify for loan modification. About Torelli RealtyTorelli Realty is a Costa Mesa real estate agency that specializes in Costa Mesa real estate, Mesa Verde real estate, and Orange County real estate.  Since 1984 the company has served the community and consistently been #1 in selling Costa Mesa homes. Torelli Realty specializes in Costa Mesa short sales, Mesa Verde short sales, and Orange County short sales. The company has 100% success rate with short sales.Torelli Realty(714) 540-7355BLOG: http://torellirealty.wordpress.com/FACEBOOK: http://www.facebook.com/torellirealtyTWITTER: http://twitter.com/TorelliRealty