Bloomberg: More Foreclosures in 2011

A report on Bloomberg citing information from Realtytrac indicates there could be a 20 percent jump in foreclosure filings in 2011 as banks resume seizures. The good news: the article indicates the peak in foreclosures and the bottom in notices of default, auction or repossession in 2010, a 2 percent gain from 2009. Banks seized more than 1 million homes in 2010, up 14 percent from 2009. About 3 million homes have been repossessed since the housing boom ended in 2006, a number that could balloon to about 6 million by 2013. Analysts at Realtytrac told Bloomberg there are 5 million seriously delinquent loans not yet in foreclosure.

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