According to RealtyTrac, May 2008 foreclosures are up 48% nationwide compared to May 2007, and REOs nearly tripled in May 2008 over May 2007 (73,794 vs. 28,548). RealtyTrac estimates that total current REOs nationwide total 700,000 properties.
On a local note, in California, RealtyTrac reports 71,390 new Notices of Default recorded for May 2008, an 11% increase from April 2008, and a whopping 81% increase compared to May 2007.
Great info Jason I know the number of foreclosures is going to increase, I have been noticing people are not willing to modify their loans instead they want to do short sales or just let go of their homes..
still climbing. . no signs of bottoming yet/. .