Skip
to navigation » Skip
to content »

New User? Register

Sign
In

Help

Make Y! Your Homepage

Yahoo!

Mail

My Yahoo!

News

Finance

Sports

Search Web Search

Home

U.S.

Business

World

Entertainment

Sports

Tech

Politics

Science

Health

Opinion

Most
Popular

U.S.
Video

The
Lookout

Local
News

Education

Religion

Crime

Contributor
Network

Starting
Point

Holiday
Guide

Year
in Review

search
menu

Search TypeChoose a search
type from the items below All News Yahoo! News Only News Photos Video/Audio

News
Search

Trending Now:

nfl
playoffs

gabrielle
giffords

pittsburgh
steelers

robert
pattinson

green
bay packers

los
angeles lakers

arizona
shooting

kristen
stewart

atlanta
falcons

iran

nba

jade
buell

baltimore
ravens

jared
loughner

schwarzenegger

san
antonio spurs

dallas
mavericks

greece

nascar

ravens

Home foreclosures in 2010 top 1 million for first time

Buzz up!

Reuters – A sign on a
foreclosed home is seen in Los Angeles, California, October 25, 2010.
REUTERS/Lucy Nicholson

Slideshow:Housing
Crisis

Play Video Barack
Obama Video:A call for unity after rampage Reuters

Play Video Barack
Obama Video:Obama address: Tackle nation's challenges AP

By Corbett B. Daly Corbett B. Daly – Thu Jan 13,
5:02 am ET

WASHINGTON (Reuters) – Banks seized more than a million U.S. homes in one
year for the first time last year, despite a slowdown in the last few months as
questions around foreclosure processing arose, a leading firm said on
Thursday.

Banks foreclosed on 69,847 properties in December, bringing the year's total
to 1.05 million, topping the prior record of 918,000 homes seized in 2009, real
estate data firm RealtyTrac said.

The number of foreclosure filings, which includes default notices, auctions
and repossessions, was a record 2.9 million last year, including 257,747 filings
in December.

"Total properties receiving foreclosure filings would have easily exceeded 3
million in 2010 had it not been for the fourth-quarter drop in foreclosure
activity -- triggered primarily by the continuing controversy surrounding
foreclosure documentation and procedures that prompted many major lenders to
temporarily halt some foreclosure proceedings," said James J. Saccacio, chief
executive officer of RealtyTrac.

"Even so, 2010 foreclosure activity still hit a record high for our report,
and many of the foreclosure proceedings that were stopped in late 2010,-which we
estimate may be as high as a quarter million, will likely be re-started and add
to the numbers in early 2011," Saccacio said.

December filings were 2 percent lower than November and 26 percent lower than
December 2009.

The firm said Nevada, Arizona and Florida continued to post the highest
foreclosure rates in the country.

And just five states -- California, Florida, Arizona, Illinois and Michigan
-- accounted for more than half of all foreclosure activity.

One in every 11 housing units in Nevada received at least one foreclosure
filing in 2010, more than four times the national average.

In 2005, before the housing bust, banks took over just about 100,000 houses,
according to the Irvine, California-based company.

(Reporting by Corbett B. Daly; Editing by Jan Paschal )

Follow Yahoo! News on Twitter, become a fan on Facebook

Buzz up!

Explore Related Content

Record 2.9
Million U.S. Properties …

- IRVINE, CA--(Marketwire - 01/13/11) - RealtyTrac (
www.realtytrac.com ), the … Full Story
Marketwire

Foreclosures
Rose 2% Last Year …

- WASHINGTON -- Foreclosures rose 2% to a record 3.83 million in 2010,
RealtyTrac … Full
Story FOX Business

. Play Video Video:
2011 to top 2010 record on foreclosures … RealtyTrac

. Play Video Video:
America's Foreclosure Crisis

Sharga Says U.S. Home
Foreclosures …

- Jan. 13 (Bloomberg) -- Rick Sharga, senior vice president at
RealtyTrac Inc … Full Story
Bloomberg

. Play Video Video: Foreclosures: Record Highs in '10

A
Housing Rebound Won't Lift the …

- With the foreclosure mess still to be played out, any recovery
in housing sales … Full
Story BusinessWeek

. Play Video Video: Calif. Foreclosure protest leads
to 22 arrests

More...

Video:
GOP ousts Steele, picks Priebus to head party AP

Video:
Obama: Holbrooke Team 'Stay in Public Service' ABC
News

Video:
Remembering a 'Gem' of a Child FOX
News

1,345
Comments

Show:
Newest
FirstOldest
FirstHighest
RatedMost
Replied

Post
a Comment

Comments 1 - 10 of 1345

First

Prev

Next

Last

0 users liked
this comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Sticks Stones Fri Jan 14, 2011
06:29 am PST Report Abuse

" Neither a lender, nor a borrower be"
who said that, even the muslim religion believed him to be a prophet of God.
Why are we in this mess?!!! not because of the politicians directly; they
just make the laws-that make it legal for lenders to Screw the Americans.
The problem is the lenders. All of america should file bankruptcy and put
the lenders out of business, but the government would just bail-out, even if
they had to borrow all the money China has to offer. Funny how the
government is broke but they can Spend $245 Billion on new jets in an
"unexpected" over-run project, hmmm, don't believe the lies. Big business
has the government by the testicles and are squeazing while the politicians
are feeling the love of stolen money!!!

1 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Sticks Stones Fri Jan 14, 2011
06:21 am PST Report Abuse

So wait a second, if there is a bailout
of the banks, and now the government helps bail out the consumers for their
home loans, who is profiting from the whole thing? I would think the rich
are robbing the U.S. piggy bank and doing it legally? Who is invested into
these banks anyway? Man the more the government screws around, the more
everyone loses but the
rich!!!

1 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Sticks Stones Fri Jan 14, 2011
06:17 am PST Report Abuse

George W, Wouldn't it make sense for a
bank to restructure a loan and get positive cash flow, instead of eating the
loan and selling the property for 1/8 the value of the loan? or did the
government bail out the banks enough that they can eat the laon? Big
Business, Big Government

1 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 1 users disliked
this comment
George W Thu Jan 13, 2011 08:51 pm PST Report Abuse

I'll bet many of these homes are worth
less than what the loans are for and so the owners just quit making payments
because they don't think it's fair to have to pay back that loan on a house
that's lost value.

No sympathy for folks who do this.

And for
you people who think the bank should just rewrite the loan, are you nuts?

Who then should eat the loss of the original loan? The
bank?

Oh that;s right. Banks are evil.

You people are nuts,
and are complete zeros when it comes to business.

No doubt you're
tomorrows new poverty class living off the tax payers.

1 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 1 users disliked
this comment
DancinBarefoot Thu Jan 13, 2011
08:33 pm PST Report Abuse

I have no sympathy for the banks stuck
with these foreclosed homes, if only they would rewrite the loan so people
can stay in them! I fail to see how it's good business to let your asset sit
empty, until bums squatting inside burn it to the ground with a cooking fire
or whatever.

4 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Barry Thu Jan 13, 2011 05:06 pm PST Report Abuse

A hearty condemnation to all the
bureaucrats in Washington who allowed this to happen. So much for watching
out for their constituents. If these turds had put half as much energy in
working out the unpopular problems as they do on their re-election campaigns
maybe this nation wouldn't be in a state of collapse.

2 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Synical1 Thu Jan 13, 2011 04:14 pm PST Report Abuse

Don't worry homeowners, help is on its
way.

obama's multi-billion dollar "help for homeowners" plan from 2
years ago will be kicking in any day now and "help millions of homeowners
remain in their homes".

3 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 2 users disliked
this comment
SixPackJack Thu Jan 13, 2011
03:24 pm PST Report Abuse

"Hope and change" where are you? Hello?
Anybody there?

4 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 0 users disliked
this comment
Citizen Thu Jan 13, 2011 03:19 pm PST Report Abuse

The banks were bailed out and they were
still allowed to take the foreclosure houses! What a f-ed up
country!

1 users liked this
comment Please
sign in to rate this comment up. Please
sign in to rate this comment down. 6 users disliked
this comment
Bruce Thu Jan 13, 2011 01:51 pm PST Report Abuse

All you liberal democrat LOSERS who
voted the "lord of the darky's" into office...LOL
Keeping voting for
Muslim "Friend of the Illegals" and "TurnCoat and Liar" obama.
His
friends, the Bankers, will get the rest of your homes before 2012
The
Bankers were given your tax-dollars to stop bank forclosers.....didn't work
for you, huh..?
Muslim "Friend of Bankers" obama sold you a bill of sale
called "LIES"
Muslim "Friend of the Fairies" obama is nothing but
lies.....
You people didn't want much in a president, that's what you
got...not much in a president..!
Why are you unhappy now because you have
no place to live....?
Call Washington, DC switchboard.....
Leave your
'I Love You's" and your "Thank You's" for your president Muslim CessPool
Bottom-Feeder obama, the Kenya Reject who has misplaced his birth
certificate.
Please note.....He lives in public housing, and stays warm
this winter....LOL....do
you..?

Comments 1 - 10 of
1345

First

Prev

Next

Last

Post a Comment
Sign
in to post a comment, or Sign
up for a free account.

Most Viewed - U.S.

Marine killed in Calif.
exercise was Texan, 27 AP

Doctors
replace Giffords' breathing tube AP

Obama's education focus faces
big hurdles AP

Record $14 trillion-plus debt weighs
on Congress AP

Paramedics describe hellish
Ariz. shooting scene AP

All
Most Viewed »

Daily Features

All
Comics »

Opinions & Editorials: Diverse
views on news from the right, left, and center.
All
Opinion »

Elsewhere on the Web

Time.com:
Hero Pilot Pulls Out the Stops to Help Grandpa Reach Funeral: 2011's
Most Heartwarming Travel Story?

ABC
News: Watch: Tucson Shooting and Civility in Washington

ABC
News: Watch: Gabrielle Giffords Getting Better Every Day

Top Stories

Paramedics describe hellish
Ariz. shooting scene

Tunisia hit with looting as new
leader is sworn in

Miss Nebraska wins 2011 Miss
America pageant

Giffords'
doctors balancing role as rock stars

Emergency
responders talk about Ariz. shooting

US automakers draw big
crowds at Detroit auto show

Brazil slide
survivors left to fend on own

Guilty and Sentenced, Tom DeLay's Texas Legacy Grows

Congressman
promises more 'oversight' after urgent call to action by
NASA

Senegal turns to Islam
to stop begging by child 'disciples'

More
Top Stories »

Sponsored Links

Stop
Foreclosure Now Find If You Qualify for the Program. 9 Million Homeowners
Eligible Now Save-My-Home.org

Buy
Foreclosed Homes Repossessed Homes for Cheap! Find Bank Repo Properties on
Sale. HomeAuctions.BankRepoProperties.net

1
Weird Tip To Belly Fat Follow This 1 Rule And Lose 13lbs In 14 Days. NewsHealthAlerts.com

Featured

Five
Civil War MythsArguments about why the South seceded still persist.»
More from Washington Post

Special
reportThe Tucson shooting rampage.»
More from Washington Post

Obama's
next speechObama pivots to the State of the Union and partisan politics.»
More from The Daily Beast

Bad
for baby?Pregnant women awash in chemicals.»
More from Time

EducationYahoo

How
to Balance Work & LifeSee hot jobs that let you live your life. One
can pay up to $92,000!

Most
Valuable DegreesLearn more about the most popular
degrees.

Yahoo! News Navigation

Home

U.S.

Business

World

Entertainment

Sports

Tech

Politics

Science

Health

Travel

Most
Popular

Odd
News

Opinion

Yahoo! News Network

RSS

News
Alerts

Weather
Alerts

Site
Map

Help

Feedback

Copyright © 2011 Reuters Limited. All rights reserved. Republication or
redistribution of Reuters content is expressly prohibited without the prior
written consent of Reuters. Reuters shall not be liable for any errors or delays
in the content, or for any actions taken in reliance thereon.

Copyright © 2011 Yahoo! Inc. All rights reserved.

Questions
or Comments

Privacy
Policy

About
Our Ads

Terms
of Service

Copyright/IP
Policy