In the 2nd week of August (Aug. 10th - 14th, 2009), there were almost 82% of all properties which were postponed for final Trustee's Auction Sale in the four (4) major Southern California counties of Los Angeles, Orange, Riverside, and San Bernardino.

The primary reasons for the typically unilateral (by the lenders in most cases) postponements of the scheduled final Trustee's Auction sales is that many lenders do not want to acknowledge how bad their non-performing losses are right now. In addition, they do not want to drive down current real estate values even more by flooding the market with thousands of additional properties.

Also, many lenders have received government bailout loans in recent months. As a result, these same lenders may not be as motivated to take back the properties right now as they may be hopeful that future government bailouts may actually purchase their existing non-performing mortgage loans for a higher price.