The Obama administration has extended the Making Home Affordable Program until December 2015 in an effort to still help homeowners who are in danger of losing their homes to foreclosure. This also includes the Home Affordable Modification Program (HAMP) and Home Affordable Foreclosures Alternative program (HAFA). The former handles loan mods and the latter is for short sales.
In the South Bay, we have seen far less REOs and short sales this year. However, there are still a number of homes in pre-foreclosure. Here are some current stats as of July 20, 2013:
Redondo Beach: 34 homes in pre-foreclosure, 30 homes are bank owned
Manhattan Beach: 7 homes in pre-foreclosure, 7 homes are bank owned
Hermosa Beach: 14 homes in pre-foreclosure, 8 homes are bank owned
Torrance: 24 homes in pre-foreclosure, 30 homes are bank owned