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RealtyTrac: 3.8m Homes to Receive Foreclosure Filing in 2010

 · Since 2006, 10 million homes have fallen into foreclosure, according to RealtyTrac, a number that in earlier, more stable times would have taken nearly two decades to reach. Of those foreclosures, more than 2 million have never come out.

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Properties seized by banks in 2010, according to real estate data company RealtyTrac. It was the first time the number has topped 1 million. 2.9 million Foreclosure filings, which include.

Georgia’s foreclosure rate was the sixth highest in the U.S. in October, according to research firm RealtyTrac. borrowers receive a zero percent interest loan, which can be forgiven over five years.

These have outnumbered the 1.24m foreclosures completed in the same period, according to the report, which bases those numbers off data from RealtyTrac. But more work is still on the way. rick sharga, senior vice president at RealtyTrac said 3.8m households could receive a foreclosure filing by the end of 2010.

RealtyTrac SVP Rick Sharga said during a session at REO Expo that there could be as many as 3.8m properties that receive a foreclosure in 2010. James Saccacio, CEO of RealtyTrac, added lenders are.

Some 55,775 homes entered the foreclosure process last month, a decline of 8 percent from July and down 44 percent from August last year, foreclosure listing firm RealtyTrac Inc. is reporting today.

According to RealtyTrac, foreclosure filings – default notices (NODs), auction sale notices (NOTs) and bank repossessions – were reported on 1,654,634 U.S. properties in the first six months of 2010, a 5 percent decrease from the previous six months but an 8 percent increase from the first six months of 2009.

RealtyTrac measures foreclosure rate by tallying the number of homes that receive a foreclosure-related filing. In 2010, 2.9 million properties received foreclosure filings – an increase of 2 percent from 2009 and 23 percent from 2008, according to data from the website RealtryTrac.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data.

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