Foreclosures Reach New High in April 2009

According to this Inman News article, Foreclosures plateau at new high, RealtyTrac data indicated that foreclosures in April 2009 increased by less than 1% from March 2009, which was the previous high. However, this represents a 32% increase over April 2008. According to the folks at RealtyTrac the recent March-April surge in foreclosures is due to the previous moratoria on foreclosures expiring. I believe that due to the declining economy foreclosures will continue to increase for the foreseeable future.