Still slicing and dicing those La Canada distress sales numbers:



The graph illustrates how long it’s taking lenders to get out from under their non- performing loans.  Note the length of time from the date of the first Notice of Default (NOD) until the date the lender/investor sold the home and was able to recoup something.

As far as the instance with more than one Notice of Default, it is likely that the homeowner and the bank were trying to work together, perhaps a failed loan modification.

Also note the date foreclosed, versus the date listed which reflects how long it took the lenders to get the properties on the market.  Other than Belita, it was about a month, to get the home cleaned, listed and on the market.  Perhaps Belita took longer due to an eviction or an attorney’s intervention.

Related Posts:  Loan Work Outs  
Loan Modification, Frequently Asked questions