The giant foreclosure wave is beginning to swell. Everything
that we have experienced in the distressed real estate market has been
The following was written by ForeclosureRadar.com:
A record-high 23,117 trustee sales are scheduled for sale Monday, November 30th, in the ForeclosureRadar.com coverage area (CA, AZ, NV, WA, OR).
Because state laws do not allow trustee sales on state holidays, we
expected to see a significant bump in sales Monday. However, the total
number of trustee sales per day for the region is typically five to six
thousand. To cover Thursday, Friday and Monday, the number of sales
should reflect three days (15,000 – 18,000). In addition, trustee sales
typically slow during the holidays and see a bump in January.
So it’s a little surprising to see four-day’s worth of sales from a
three-day period right after Thanksgiving. That being said, it doesn’t
mean 23,117 families will lose their homes on Monday. Lately, ninety
percent of trustee sales are just postponed to another day.