Foreclosure activity slows in April

Foreclosure activity slows in April
Foreclosure activity slowed in April, and foreclosure filings decreased in Arizona, California, Nevada, and Washington, according to ForeclosureRadar’s latest report.
Foreclosure filings in California fell to lows not seen since fall of 2008. Notice of Default filings declined 25.8 percent, and Notice of Trustee Sale filings decreased 10.9 percent compared with March. On a year-over-year basis, foreclosure filings were down as well, with Notice of Default filings down 28 percent and Notice of Trustee Sale filings falling 31.2 percent from April 2010.

Foreclosure sale cancellations rose 27 percent compared with March, and activity on the courthouse steps slowed. The average time to foreclose continued to climb, increasing 3.3 percent to 312 days.

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