Sharp Spike in Foreclosures Ahead

Thursday, December 11, 2008 5:11 PM

By: Dan Weil

Home foreclosures are likely to surge upward next month, as the real estate crisis deepens, says Rick Sharga, executive vice president of the research firm RealtyTrac.

The firm’s data show that foreclosure filings actually decreased 7 percent in November from October, though the total — 259,085 — was still 28 percent above November 2007.

“The numbers were artificially held down by several factors,â€