Home Foreclosures in 2010 Top 1 Million for First Time

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Overall, about 1.7 million homeowners received foreclosure-related notices in the first half of 2010, which equates to one in every 78 homes in the United States! Around 1.7 million houses in the United States are in the Foreclosure process.

Yes, foreclosures, as well as any other type of property, are for first time home buyers. The one thing you need to keep in mind is that most foreclosures need work. An owner who cannot pay his mortgage is not likely to spend money on repairs, so finding a "turn-key" foreclosure is rare.

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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.

Brooklyn and queens primarily drove the city’s 58 percent year-over-year increase, with 827 and 1,260 first-time. home buyer space, the $1 million to $1.5 million space,” Wieder said. “They cut.

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