Quotes
“The true use of gold is for paving streets, covering houses and making culinary dishes, and when the Saints shall have preached the gospel, raised grain and built up cities enough, the Lord will open up a way for a supply of gold to the perfect satisfaction of His people. Until that time, let them not be over anxious, for the treasures of the earth are in the Lord’s storehouse and He will open the doors thereof when and where He pleases.” (Brigham Young at Home, p. 252.)
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Friday, 16 May 2008 16:17 |
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California's foreclosure crisis passed another ominous milestone in April, when more than 1,000 foreclosed homes were auctioned off every weekday at courthouses across the state, the auction tracking firm ForeclosureRadar reported today.
The April total of foreclosure sales at auction -- 22,838 for the state -- represents a jump of 44% over March totals and the highest level ever in California, ForeclosureRadar reports.
A separate estimate of foreclosures by DataQuick Information Systems had counted 47,171 foreclosures in the first quarter, a rate of more than 500 per day from January to March. The new statistics show every category of foreclosure statistics rose in April.
It appears the pipeline of potential foreclosures is jampacked, too: the ForeclosureRadar reported 44,101 new "Notices of Default" filings in April, a new record for California. Notices of Default are the first step in the foreclosure process.
"We expected a significant increase in auction sales based on previous default patterns," said Sean O'Toole, founder of ForeclosureRadar. "Unfortunately, the continued increases in defaults tell us that the worst is still ahead." Read the full article...Â
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