The 'Robo-gate' scandal doesn't appear to be having much of an impact on the foreclosure market in California, according to ForeclosureRadar chief Sean O'Toole.
In a recent blog post, O'Toole says that Robo-gate is not affecting foreclosure notices or bank-owned home sales in the state.
"Let's start by saying that by and large it has been business as usual in California and the other non-judicial foreclosure states that we cover: Arizona, Nevada, Oregon and Washington," he writes. "Foreclosure sales are down, but activity is well within typical ranges."
He adds that, "We've read a number of stories that suggest investors have fled the market and are no longer buying properties at the trustee sales held on the courthouse steps. The numbers say otherwise. Since the beginning of the year investors have purchased an average 20.8 percent of all foreclosure sales in California."
ForeclosureRadar is a foreclosure-tracking website.
