Thursday, April 08, 2010

BofA Foreclosure Prediction

Ooooohhh, that's a big number.

The west coast manager of real estate owned, Senior Vice President Ken Gaitan, stated that Bank of America, which currently forecloses on 7,500 homes a month nationally, will increase that number to 45,000 homes per month by December of 2010

That was clarified as follows:

BofA expects to foreclose on 300,000 properties this year, with the peak month being December at 45K filings.

HT: CalcRisk

1 comment:

Disgruntled Car Salesman said...

That is quite a spike, dontcha think?

Maybe that bubble has yet to burst.