Home Foreclosures in 2010 Top 1 Million for First Time

Florida, Tampa Bay rank high in risk of mortgage fraud Daniel Cardenas, 37, Tampa, Florida, was sentenced today to 18 months in federal prison for conspiracy to commit wire fraud. According to court documents, from as early as October 2007 through May 2008, Cardenas and others conspired to execute a wire fraud scheme affecting financial institutions.

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Top 1% Profits from Home Foreclosures. The attraction is double-digit returns at a time when most bonds and other income investments yield very little. The most popular strategy is for a big investor to team up with a local company that scouts out houses and finds the renters. The hope is to flip the homes in the future when prices recover.".

In addition to the millions of borrowers who have already lost their homes, about 5.7 million are at risk of foreclosure, the report said. About 494,930 blacks and 731,660 Latinos are at imminent.

Foreclosures Set to Hit 1 Million Mark in 2010. Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.

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US home foreclosures on all-time high. Repossessions jumped by 3 per cent in the month and 25 per cent in the year. At the same time, a similar amount – 96,469 homes – got a default notice. Defaults declined 1 percent from July and 30 percent from August 2009 after peaking at 142,064 properties in April 2009.

Record 3 million households hit with foreclosure in 2009. Indiana foreclosures fell by 9.9%, Ohio by 10.5% and Rhode Island by 23.6%. California, by far the most heavily populated in the union, posted the most filings with 632,573, up 20.8% from 2008. Golden State cities have also recorded some of the steepest declines in home prices, with values falling 50% or more in some central valley cities.

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But he soon accepted a deal that brought $12 million to Delaware, $1.8 million in direct payments to those who lost their homes to foreclosure. in 2010 by Biden to give homeowners a chance to meet.

According to the Reuters report, U.S. 2010 home foreclosures top 1 mln for first time, that number could have been much higher – topping 3 million, if it had not been for the 4th Quarter fall off which was precipitated by the home foreclosure robosigning scandal. The article states: