Cliff's Notes…on Real Estate

California led the nation with 72,285 foreclosure filings in July, a 5 percent increase from June and an 85 percent increase from July 2007, according to a recent report by RealtyTrac®.

Bank repossessions, auction notices, and default notices all increased in year-over-year comparisons.

Default notices however, which are the first phase in foreclosure proceedings, declined 4 percent from June, according to the report.

Have we hit the bottom of this insanity called Foreclosure?