The recent “good news” for California homeowners that foreclosure filings were down over the past several months has been short lived. Banks have increased their foreclosure filings in California by over 200% from July to August, with nearly 60,000 new foreclosure filings on properties statewide, while nationally the foreclosure rate rose over 7% and mortgage defaults jumped 33%.
According to ForeclosureFraudExposed.com, most of the foreclosure filings were Notices of Default, which is the first step in the foreclosure process in non-judicial states. Non-judicial states do not require a Bank or Servicer to go through the court system in order to foreclose on homeowners, nor do they have a judge mediate or oversee them, leaving homeowners in these states at substantially higher risks of falling victim to foreclosure fraud. In many cases, the Bank or Servicer simply files the paperwork with the county courthouse and the foreclosure is approved, that is unless the homeowner defends their property and fights back to stop foreclosure fraud.
Banks have claimed that the spike in foreclosure filings was due to a backlog of delinquent mortgages that were initially held held off from being processed. But now, Banks and Servicers are back in gear and cranking notices of default out, so it seems. All major U.S. Banks have began to file an increasing number of foreclosure filings, as already indicated by the rise in foreclosure rates and filing over the past 45 days, the highest rates we have seen this year thus far.
The big Banks are sending a clear message to homeowners – the foreclosure moratorium is over and they are back to processing as many foreclosure as they can. The time for homeowners to act is now. If a person is serous about defending their home they must take steps to defend what is theirs and learn what they can do to stop foreclosure.
To learn more about Quiet Title Action, Securitization, the Uniform Commercial Code, and the various other successful methods available to Stop Foreclosure Fraud, Please Visit: http://foreclosurefraudexposed.com
ForeclosureFraudExposed.com is the leading consumer defense website that provides consumers’ with a complete A-Z step by step stop foreclosure defense video tutorial, backed with case victories based on information that has helped 1000’s of others Stop Foreclosure and Save Their Homes.
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To learn more about Securitization, Uniform Commercial Code, Quiet Title and the various other successful methods available to Stop Foreclosure Fraud Please Visit: http://foreclosurefraudexposed.com











