According to a May 5, 2009 article on Forbes.com - Indicators point to a fast approaching end date: May 2009. It appears that several indicators are favorable for a turn around in the economy.
Also on May 5, 2009 the state Supreme Court in South Carolina temporarily stopped thousands of pending foreclosure sales. The ruling involves properties guaranteed by Freddie Mac, Fannie Mae or a mortgage company that has signed up for a federal assistance program. In the Myrtle Beach area the majority of foreclosures are second or vacation homes that do not normally qualify for any assistance programs and they were not addressed in the court ruling.
Sandy, we in Ohio had a similar situation in January where Fannie Mae foreclosures were temporarily stopped, my Real Estate partner and I had a couple weeks of "slow down" with our REO listings... other than that we hardly noticed a difference, the foreclosure listing continue to come to our brokerage, they are almost dominating our market.
Karol