Foreclosures and Defaults are up for April 2009 vs. april 2008

The graph shows default and foreclosures are up from April 2008, however they are lower than last month's total. March 2009's numbers also reflected the lifting of the foreclosure moratorium by many lenders, but then new foreclosures rules were implemented to further delay foreclosures.

I would expect additional REO's to come online in the coming months.