I didn’t see this posted here yet, and rather than start a new thread I thought this post from last May when things were supposedly “landing softly”, was appropriate.
In all, some 63,061 homes were lost to foreclosure in the second quarter — the most in any quarter since 1988, when the firm began tracking foreclosures.
Notices of default, meanwhile, more than doubled in the second quarter to 121,341 loans on a total of 118,020 homes, compared to the year-ago period.
It may stop getting worse (could it get any worse?) but that doesn’t mean it’s going to get better anytime soon either, and I doubt there are 60,000 new REOs listed in the MLS from this quarter. If I’m wrong, send me the listings for LA.
