Lorca222, Home Buyer in Merced, CA

The moratorium on foreclosures is supposed to end in the middle of September. No one seems to know how this

Asked by Lorca222, Merced, CA Wed Jul 29, 2009

will affect the market for buyers. Does anyone have a sense of how many homes will be put on the market after the moratorium ends?

Help the community by answering this question:


Hi Lorca222, I touched on this in another post as follows:

"On 6/15/09 CA added a new 90-day moratorium on home foreclosures in California. Personally, I think this is more political posturing than effectual in stopping the foreclosure process. Here's the key: Lenders and loan servicers that already have a comprehensive and systematic loan modification program in place are EXEMPT FROM THE LAW. Now take a look at who is exempt: (some of the largest in the Nation):

So, just how effective is this new law? Not very much in my opinion."

There are numerous opinions about whether or not additional supply of distressed properties will hit in Q409. I happen to believe Q409-Q110 is when we will see noticable supply increases. You can read why here (this is an "agent-to-agent" post about REOs)


Best, Steve
0 votes Thank Flag Link Thu Jul 30, 2009
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