Sonoma Housing Bubble

Wednesday, September 06, 2006

At 9/06/2006 10:59:00 PM , Anonymous said...: Until recently, a foreclosure was no big deal. The homeowner would simply put the house up for sale, then pay off the mortgage and all fees a few weeks later.

There might even be enough money left over to enable the distressed former-homeowner to get into a rental unit. And all this could be accomplished without ruined credit.

Unfortunately, those days are over.
At 9/09/2006 07:54:00 AM , Anonymous said...: take a look at the tax liens,as well,way way up.so are early defaults on mortgages,where flippers assumed they could get in and out in under 6 months.
At 9/09/2006 09:41:00 AM , Athena said...: Coming right up Tom. I have long heard that the next round of foreclosures often come from the ranks of the tax liens. At this time there are 170+ on the tax lien list. Its odd how many are on the famed East side of town... :-/