The North County Times notes a sharp increase in foreclosure auction notices coming from BofA, likely to Countrywide customers. Southwest Riverside county (just northeast of San Diego) is catching this particularly hard, perhaps in an effort to catch up with the rest of Riverside county.

More oil stat

From Dana Olick at CNBC

The new foreclosure wave is here.

Yes, banks are ramping up loan modifications and ramping up short sales and ramping up deeds in lieu of foreclosure, but the plain fact is that as the systems are oiled, the loans are moving through faster, and the pig in the python is showing its face.

As the Little Prince pointed out, it's probably an elephant in there, not a pig.