Southern California washes away foreclosure impact

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“If this stays at zero funding this is like the tsunami crashing onshore and it’s the little houses will get washed away first because they are. because we are an interconnected system.” Southern.

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Recent research on the impact of the foreclosure crisis on children revealed that approximately three million children, or 37% of all children affected by foreclosure, live in rental housing.11 The percentage is even greater in some localities. In southern New England, for example, 45% of foreclosed units containing children are rentals.12

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Southern California washes away foreclosure impact .. was the rise of subprime lending and its subsequent impact on the secondary. The Southern California housing market. said those factors put the regional housing market on a path for growth that won’t wash away in a tsunami of foreclosures and ruined credit scores. "The.

Catherine Coy, a mortgage broker in Southern California, agrees with Steep. "The effect on a consumer’s credit report-foreclosure vs. short sale-is the difference between being hit by a train or a bus," says Coy, speaking about borrowers who are a few months in arrears. However, over the years, short sales tend to carry less and less stigma.

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