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01/13/11

Home foreclosures in 2010 top 1 million for first time

Jan 13 (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. 

[...]

And just five states -- California, Florida, Arizona, Illinois and Michigan -- accounted for more than half of all foreclosure activity.

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