Disguised Calabasas, California Foreclosures
Disguised Foreclosures?
Some of the Calabasas, California foreclosure properties are new homes. A direct result of the failing economy, in some areas, builders of new mid-scale and upscale homes reach the end of their construction-loan periods without securing buyers. These Calabasas foreclosure homes are not as easy to identify because they rarely appear on national lists of foreclosed homes.
In these cases, the banks that issued the construction loans take possession of the Calabasas foreclosure homes and attempt to sell them, using real-estate agents. These, too, are Calabasas foreclosures. They are disguised Calabasas foreclosures because no one associated with the sale of these properties will refer to them as foreclosed homes.
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