
Banks dramatically increased their scheduled foreclosure auctions in November 63% over October. They appear serious about clearing out shadow inventory and getting what capital they can out of the loans secured by houses occupied by delinquent mortgage squatters. Scheduled foreclosure auctions soar in California Banks set the clock for forced sales of more than 26,000 homes in the state in November, a 63% increase from October. Overall foreclosure notices nationwide fell last month. By Alejandro Lazo, Los Angeles Times -- December 15, 2011 Banks in November scheduled more than 26,000 homes to be sold at California foreclosure auctions, a 63% increase from October and a sign that a surge in discounted, bank-owned properties is on track to hit the market…[READ MORE]