A 600% increase in foreclosures
I attended a local Building Industry Association conference on Friday 26 March 2010. The west coast manager of real estate owned, Senior Vice President Ken Gaitan, stated that Bank of America, which currently forecloses on 7,500 homes a month nationally, will increase that number to 45,000 homes per month by December of 2010.
After his surprising statement, two questioners from the audience asked questions to verify the numbers.
Bank of America is projecting a 600% increase in its already large number of monthly foreclosures.
Lets get that party started! With inventory as constrained as it is that could almost double the number of REO listings in our market. We need them and this market would swallow them all whole.
Lets get that party started! With inventory as constrained as it is that could almost double the number of REO listings in our market. We need them and this market would swallow them all whole.
Lets get that party started! With inventory as constrained as it is that could almost double the number of REO listings in our market. We need them and this market would swallow them all whole.
Lets get that party started! With inventory as constrained as it is that could almost double the number of REO listings in our market. We need them and this market would swallow them all whole.
Lets get that party started! With inventory as constrained as it is that could almost double the number of REO listings in our market. We need them and this market would swallow them all whole.
