Sean, our Los Angeles correspondent, files this report:
Up here in LA it looks like BofA/Countrywide just threw the foreclosure machine switch back to the “on” position. The number of Recontrust properties with opening bids set for tomorrow’s trustee sale auctions just spiked, so it looks like whatever self imposed delays or moratoria they had put in place during the past few months just came to an end. Let’s cross our fingers and hope that maybe last year’s misbegotten prediction that they would crank out 65k foreclosures is about to come true a year later.
Here are the San Diego County stats for Recontrust – hopefully this will mean something:
Trustee-sale results, YTD:
This week: 298
Next week: 270
2/7 – 2/11: 884
2/14 – 2/18: 813
2/21 – 2/25: 327
Seven percent of the total are facing their first scheduled date.
Bold above – the rolling blob of loanmod-shadowinv ?