Newport Beach had 18 new notice of default filings during February 2012 ? which was down from last year ? and had 20 notice of trustee sales, which was also down from last year.
Government intervention has slowed down foreclosures but failed to deal with negative equity. ??Passing laws to essentially eliminate foreclosures, as they appear to have accomplished in Nevada, and are now contemplating with similar draconian measures in California, is likely to do more harm then good. The pendulum of regulation is once again swinging too far.? ? Sean O?Toole ? ForeclosureRadar.com.
Notice of Default filings are the first step in the California foreclosure process. ?Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowner?s final notice before sale.
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