Not an entirely healthy sign. This covers the three fold rise in foreclosure scam artists. These guys scam the default notices in the public record and then claim to be a white knight to help the person out. In most of these schemes the owner surrenders title to the white knight who then walks off with the equity through selling the house. A increase of this size in one year in reported cases of this fraud indicates that many owners are having a tough time adjusting to the new larger mortgage that accompany rising proporty values. While this starts at the lower end of the market and slowly works it way up.

Labels: californiaforeclosures, forclosures, forclosurescam, foreclosurescamartists, SouthCoasttoday, southerncalifornia

  ¶ Not an entirely healthy sign.