CALIFORNIA FORECLOSURE JUMP 21%!!!!!!

Foreclosure Sales Jump by 21 PercentDespite increase sales are still well below record levels
Discovery Bay, CA, November 12, 2009 - ForeclosureRadar (http://www.foreclosureradar.com/), the only websitethat tracks every California foreclosure and provides daily auction updates, issued its monthly CaliforniaForeclosure Report for October 2009.

After 3 months of consecutive declines the number of foreclosuresales taken back by banks rose by 22.24 percent from September and 20.95 percent from October 2008.Despite these dramatic increases, the number of foreclosures taken back by banks remains 42.56 percentbelow the peak reached in July 2008, from which time the inventory of scheduled foreclosures has grown by131.36 percent.
“While we continue to see a steady stream of properties entering foreclosure, relatively few are completingthe process and being sold at auction despite the increase this month,” says Sean O’Toole, Founder andCEO of ForeclosureRadar.com. “The bigger picture is that more and more homeowners are findingthemselves upside down in foreclosure limbo, some hoping for a loan modification or short sale, whileothers are just waiting for a knock on the door”.

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Salem
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