Inside these posts: Repossessions

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Banks repossess 1 million U.S. homes in 2010

Banks repossessed more than 1 million homes in 2010, marked the highest annual tally of properties lost to foreclosure on records dating back to 2005, RealtyTrac said.

And this year is expected to be even bleaker. “2011 is going to be the peak,” said Rick Sharga, a senior vice president at foreclosure tracker RealtyTrac Inc.

Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. Get the full story »