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Articles

1. Home Foreclosures in 2010 Top 1 Million for First Time

January 13, 2011
Reuters

(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.

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2. Mortgage Modifications in U.S. Decline as Fewer People Qualify for Program

December 29, 2010
Bloomberg

The number of delinquent borrowers who started U.S. home loan modifications declined in the third quarter as fewer people qualified for easier payment terms, according to the Treasury Department.

Loan servicers started 470,321 modification or payment plans in the three months ended Sept. 30, down 17 percent from the previous quarter and 32 percent from a year earlier, the Treasury Department Office of the Comptroller of the Currency and Office of Thrift Supervision said in a report today.

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