Foreclosure statistics for month of September continue to show a downward trend for initial filings of foreclosure, but an upward tick for filings in the Notice of Trustee filings, whereby a time and date is set for the actual auction. However, many properties currently in foreclosure are now being delayed (loan mods) or cancelled (completed short sale or possible HARP refinancing).

Foreclosure stats for 3rd Quarter also show a downward trend. Many think the big lenders are waiting to see what the results of the election will be, how the new congress will be re-constituted and the effect the national mortgage settlement will have, plus the new California foreclosure rules going into effect January 1.