"Total currently available" means that those homes have not made it to the sherriff's sale yet. That is, the financial loss to the mortgage bank has not yet been realized. It's not on their books yet. They can't project what future losses may be. If you look at those numbers, foreclosures are increasing EXPONENTIALLY.
Sick azz write downs are coming... look at the increase from last month, and we are not even half way through this month yet.
Banks are losing their azz. More to come. I am going to start and really believe that our financial institutions are really in deep doo doo. Remember that bug "Ambac bailout"? Yeah... dilution. Took them weeks to do what pinkies do every day.
They dumped the loss to the investors..... they are doing it right now.
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