What is the percentage of homeowners that do nothing to attempt to save their home from foreclosure?


#1

Does anyone know where I can find data / statistics on the percentage of homeowners that allow their home to go into foreclosure without any attempt to negotiate with the lender or short sale.


#2

It would be very hard to find that data since loan mods are not a matter of public record. With the passage of SB 1137 which forced the lenders to make contact with any homeowner prior to foreclosing on their property we can assume that every homeowner has been contacted or an attempt was made by the lender to contact them. Whether or not they responded or tried to negotiate to save their home is unknown.


#3

SB 1137 can be ignored by lenders, and it won’t affect the validity of the sale.