I have been told that we will be seeing a flood of foreclosures since the “stay” is coming up. To be frank, I haven’t done too much homework on this, but my understanding is that there are teams of lawyers working crazy hours to process all of this stuff.
Here is a decent gauge: NY HUD foreclosure list.
Select Erie County from the NY State Foreclosure list. On 3/31/2009 there are 10 properties listed. In the past there were probably about 20-40. Let’s see if this spikes.