START A PETITION27,000,000 members: the world's largest community for good

Foreclosure Rates Surge: Banks Catch Up To Backlog, US On Pace To Hit 1 Million Repossessions In 2010

Business  (tags: Banks, California, Financial Crisis, Florida, Foreclosure Rate, Mortgages, Nevada, Obama, Predatory Lending, Real Estate, Realtytrac, Repossession, Subprime Mortages, Unemployment, Us Foreclosures, Wall Street, White House, Business News )

- 2053 days ago -
A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

Select names from your address book   |   Help

We hate spam. We do not sell or share the email addresses you provide.


Rajee Seetharam (138)
Friday April 16, 2010, 6:37 am
Noted with thanks.

Shannon G. (35)
Friday April 16, 2010, 10:01 am
This article fails to point out the raise in percentage of Stratigic defaults that are on the rise. Without question we have a huge crisis on our hands in the housing market but did you know that more then a quarter of the defaults in 2009 were due to people just walking away from their homes? There is a growing industry in which professionals are teaching the benefits of walking away from their homes because of negative equity. While I am sympathetic to those who have lost their jobs or have interest rates that they cannot afford, I find little sympathy for the people who walk away from their homes because it's not a good investment anymore.

Mary Donnelly (47)
Friday April 16, 2010, 4:08 pm
Noted. Thanks.
Or, log in with your
Facebook account:
Please add your comment: (plain text only please. Allowable HTML: <a>)

Track Comments: Notify me with a personal message when other people comment on this story

Loading Noted By...Please Wait


butterfly credits on the news network

  • credits for vetting a newly submitted story
  • credits for vetting any other story
  • credits for leaving a comment
learn more

Most Active Today in Business

Content and comments expressed here are the opinions of Care2 users and not necessarily that of or its affiliates.

New to Care2? Start Here.

site feedback


Problem on this page? Briefly let us know what isn't working for you and we'll try to make it right!