Banks repossess 1 million homes in 2010

Gerald · 01-13-11, 06:23 AM

NEW YORK – The bleakest year in foreclosure crisis has only just begun.

Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast.

"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.

http://www.foxnews.com/us/2011/01/13...million-homes/

Note: Published January 13, 2011

01-13-11, 06:23 AM	#1
Gerald SUBSIM Newsman Join Date: May 2008 Location: Close to sea Posts: 24,254 Downloads: 553 Uploads: 0	Banks repossess 1 million homes in 2010 NEW YORK – The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast. "2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc. http://www.foxnews.com/us/2011/01/13...million-homes/ Note: Published January 13, 2011 __________________ Nothing in life is to be feard,it is only to be understood. Marie Curie