Foreclosures in California

There are hundreds of thousands of foreclosures in California, and more and more of these properties are being unloaded by the banks every day. Foreclosures come in all shapes and sizes, from single family homes, condos, and townhouses, to duplexes, fourplexes, vacant lots, and even subdivisions. California Real Estate was doing great during the boom as property values doubled in a matter of years. However, since that time, properties have plummeted and foreclosures have risen. Too many California Residents bought homes they couldn’t afford, and used loans they couldn’t pay back. Now that so many California Homes are “underwater” it is hard for sellers to avoid short sales or foreclosures.

After much government regulation to try and slow down and prevent foreclosures in California, we are still seeing record high levels of foreclosures. While foreclosures are unfortunate for those going through it, they also represent opportunities for people looking to buy undervalued properties.

Most foreclosures in California are listed for sale on the MLS. These prop

erties can be easily located with ZIP Realty’s MLS Home Search. When listed on the MLS foreclosure properties are usually not more difficult to purchase than traditional real estate listings.

California Foreclosure HomesFind California Foreclosures With

While some California Foreclosures are beat up and trashed, others are in great conditions. Some negligent borrowers who are in danger of forecloser decide to trash their homes, and or take away anything valuable with them before the homes actually go to auction. It’s these trashed homes that first come to mind when most think about foreclosures. However, bad things happen to good people, and some foreclosures in California are actually in great conditions. They are well cared for homes where the previous owner was just unable to afford their mortgage payment.

Banks with lists of CA Foreclosures

Any bank can have foreclosure inventory. By far the biggest though is Bank of America, which took over struggling Countrywide financial. Countrywide was notorious for issuing risky adjustable rate and option arm loans. Other banks with high numbers of California Foreclosure homes include, Wells Fargo, Wachovia, Citi Bank, Bank of the West, Bank of Sierra, Desert Community Bank, FirstBank, Imperial Capital Bank, La Jolla Bank, Northern Trust Bank, Summit Bank, and any number of other small banks and California credit unions.

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