1 Million Homes May be Lost to Foreclosure In 2010

On July 16, 2010, in Foreclosure, by Robbie L. Vaughn, Esq.

Over 1 million homes could be lost to foreclosure this year

A recent Associated Press article is reporting that:

“More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.”

And that:

“Nearly 528,000 homes were taken over by lenders in the first six months of the year. If foreclosures continue at that rate, the yearly number would eclipse the more than 900,000 homes repossessed in 2009….”

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