REO's expected to increase an ADDITIONAL 150% IN 2009

The Center For Responsible Lending projects 2.4 million foreclosure starts in 2009, including 1 million already completed. And real estate-owned assets are on the way up again since most of the foreclosure moratoria have been lifted. States, including Michigan, Arizona, Washington, Nevada, Oregon and New York, are seeing REO activity spike, according to RealtyTrac, which reported a total of 65,017 properties in REO for May. Full Story

JMO:

We are starting to see more REO activity in both CA and AZ. In a related article we are also hearing that companies are ramping up hiring in their loss mitigation departments and upgrading technology to better equip themselves to make bulk decisions.