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Thursday, January 13, 2011

Banks repossess 1 million homes in 2010

It's going to be very hard to predict what will happen in 2011.  Banks might be more open to short sales and reduce the whole problem of foreclosure-gate, but that has it problems with the investors that own loans.  It will be another mess year.

"2011 is going to be the peak," said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.
The outlook comes after banks repossessed more than 1 million homes in 2010, RealtyTrac said Thursday. That marked the highest annual tally of properties lost to foreclosure on records dating back to 2005
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