BluegrassForeclosure.com

The high unemployment rate is still affecting many areas of the economy.  The Courier-Journal reports that the Jefferson County Master Commissioner sales are on pace to break a record.  For the year, there were 4,377 master commissioner sales set.  The Jefferson County Master Commissioner only expects about half of them to take place, which means about 2,142 pieces of property have been or will be sold.  The record number of foreclosure sales was set in 2007 at 2,093.

With the unemployment rate hovering around 10%+, there does not seem to be any relief in sight.  So next year could be and most likely will be even worse as people begin running out on their unemployment benefits.  The article points out that many banks are much more willing to work out a deal with the homeowners to try and keep them in the home.  Even with banks being more flexible than they have been in the past, I would expect that we have not seen the last of the foreclosure crisid.