More homeowners at risk of foreclosure are seeing relief from their lenders according to the Modesto Bee’s J.N. Sbranti. Foreclosure filings were their highest in August for Stanislaus, San Joaquin and Merced counties and fell dramatically in October by about half across all counties.
CNNMoney.com reports that foreclosures country wide increased 5 percent from September to October.
At PMZ’s Modesto Residential Sales meeting this morning, PMZ President and CEO, Mike Zagaris, mentioned that while there appears to be a shortage of foreclosures in the area this month, we could see intermittent increases in foreclosure supply in the coming months. It’s unclear at this time what the supply of bank-owned homes will look like in the future.