These numbers were prior to the Robo Signer scandal.  It would be interesting to see how many foreclosures were actually completed after the Robo Signer  scandal broke.

But one thing is still clear, people here in Silicon Valley are still having difficult times making ends meet or simply do not know where to turn as evidenced by  unemployment rate in Santa Clara County being  still over 10%. And interestingly,  assistance at local food banks have increased by similar numbers from 2009 to 2010.

Things are very tough for many people and you may know of someone who may be having difficulty paying their mortgage  payments.   The Holiday Season should be about spending quality time with loved ones and not about stressing over missed mortgage payments.  There are solutions and ways to fight foreclosures, if you know of someone who may be struggling through this Holiday Season, please pass along this report.    Help them take control of their finances.

Please read this Article

As a San Jose Short Sale Agent, I am a firm believer that the second wave of foreclosures will be triggered by multi billion dollars worth of Option ARMs recasting in the next few years. The problem has been brewing quietly and is the big secret in the industry today.   It is the pink elephant that no one has been speaking about, but with the passing of time, it continues to grow and becomes too difficult to ignore.   The above article actually put numbers behind the problem that the country and affected homeowners will be facing in the coming years.  Make no mistake about this, option ARM will be a huge problem affecting the mortgage market and the subsequent impact it will have on foreclosures. Homeowners who own these types of loans will have a huge wake-up call in the coming months and years.