Fresno County Experienced Decline in Foreclosure Activities

It is expected by the real estate agents that there will be a jump in the rates of foreclosures as summer is coming. However, the foreclosure scenario in the Fresno County is showing opposite results to that, here foreclosure rates are down.

Compared to the 815 foreclosure sale in April, in May the number of trustee sales were 683, when an auction dated was finalized. Last year, in May, according to the reports of the ForeclosureRadar that keeps record of the foreclosure activities, reported 1,069 foreclosures.

According to other reports, the reason behind this decline is the understanding and modification of the mortgage loans between lenders and homeowners. Moreover, low rates of interests that provide relief to the lenders with lower monthly installments, was another reason.