Our Notice of Default has still not been delivered to us. IndyMac lost no time in getting it out their door on the 90th day and in to the hands of their attorneys for filing. Maybe filing takes awhile, that’s something I’ve not read or heard about.
In the meantime the news today, again, is not good with economists saying the housing slump is far from over and, in fact, appears to be going backward. The numbers in the attached story are truly amazing. 5 million foreclosures since 2006 and 3 million more expected over the next couple of years. Home prices are expected to continue on a decline in certain areas due to joblessness and I know for sure that one of those areas is Stockton, CA. We had no chance here.