Inland Empire CA Home Foreclosures

I am hearing over and over again from friends/business colleagues/students at my notary classes/etc that they personally know friends that are living in homes for 1-2 years without making a house payment and no one has been evicted.

I don't think these are "Urban Legend Stories" because too many people actually know someone who is living in such a home situation. For instance my financial advisor said 6 of his clients in Riverside are doing this.

What is the the reason(s) the lender hasn't foreclosed and taken over these properties?

I am wondering if the lender can keep the home on it's books as not showing a loss or are they trying to "prop up" home prices in the Inland Empire.

We should have ton more homes available in the Inland Empire than we do.

I do a lot of mobile notary work for tenants in apartment buildings and most apartment complexes have a sign up front that offers $200-$500 for a moved in tenant referral.

There are very few homes for sale but apartment owners have to offer a "bounty to get a tenant."

Doesn't make sense to me!

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