Why home foreclosures will rise again this year
After a short lull, more Americans are set to lose their homes
Why home foreclosures will rise again this year
Joseph N. DiStefano
More than 3 million American homes will be seized in foreclosure by banks and other lenders from owners who have fallen behind on their payments, loan-watcher RealtyTrac tells Bloomberg at
http://www.bloomberg.com/news/2011-01-13/u-s-foreclosure-filings-may-jump-20-this-year-as-crisis-peaks.html
Why the increase, if the economy is getting better? A look at RealtyTrac's most recent report tells more: Foreclosures actually fell in November and December. But that's because of banks' temporary halt in new filings due to the discovery they haven't been filing proper paperwork. Foreclosures began rising again in late December, there's a backlog from last fall's delay, and there's more new foreclosures in the works as home prices continue to fall.
More from RealtyTrac at http://www.realtytrac.com/content/press-releases/2010-year-end-foreclosure-report-6309
