Home Foreclosures in 2010 Top 1 Million for First Time

Home Foreclosures in 2010 Top 1 Million for First Time

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US home foreclosures on all-time high. Repossessions jumped by 3 per cent in the month and 25 per cent in the year. At the same time, a similar amount – 96,469 homes – got a default notice. Defaults declined 1 percent from July and 30 percent from August 2009 after peaking at 142,064 properties in April 2009.

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Today comes the official tally for 2010: more than one million homes foreclosed on, with another FIVE million homeowners at least two months behind on their payments, according to foreclosure.

Our foreclosure listings currently stand at over 1 million and include Short Sales, Bank Foreclosures, HUD Homes, Pre-foreclosures and more. Our property detail pages reveal all the background information needed to evaluate each listing and connect with key contacts in control of each property.

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The first half on 2010 recorded a whooping 528,000 homes reclaimed by lenders, eight percent ahead of last year’s numbers. With another five months to go this year, these numbers will escalate further. Overall, about 1.7 million homeowners received foreclosure-related notices in the first half of 2010, which equates to one in every 78 homes in the United States! Around 1.7 million houses in the United States are in the Foreclosure process. Many financial institutions are using active.

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