Foreclosures may rise to record three million US homes in 2010

Bloomberg

01/14/10

A record 3 million U.S. homes will be repossessed by lenders this year as high unemployment and depressed home values leave borrowers unable to make their house payment or sell, according to a RealtyTrac Inc. forecast. Last year there were 2.82 million foreclosures, the most since RealtyTrac began compiling data in 2005. More than 4.5 million filings are expected this year, including default or auction notices and bank seizures, said Rick Sharga, senior vice president for the Irvine, California-based seller of default data and forecasts...

http://www.bloomberg.com/apps/news?pid=20601103&sid=avunOgrdEx_g


Informant: Thomas L. Knapp

--------

One in 7 U.S. mortgages foreclosing or delinquent

A record one in seven U.S. mortgages were in foreclosure or at least one payment past due in the third quarter, according to fresh data signaling the recovery in the housing market will be tepid at best.

http://www.reuters.com/article/idUSN1937065020091119


From Information Clearing House



http://freepage.twoday.net/search?q=recovery
http://freepage.twoday.net/search?q=foreclosure
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=unemploy

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