Foreclosures at 3 Million in 2010. What will 2011 Bring?

Foreclosure proceedings, which includes actual reposessions as well as the initial stages of the foreclosure proceedings hit a record 2.9 Million in 2010.  Towards the end of the year, as the proverbial stuff hit the fan at the banks and servicers, the pace slowed.

As we enter 2011 however, it appears that the banks and servicers are again picking up the pace, and the possibility of this year breaking that record is a definite possibility.  But it appears that there may be some relief, as many states have put additional safeguards in place.

"Whether it'll go back to the torrid pace of the past is unclear. Some states have recently added speed bumps. "

To read more on whether foreclosures will break the 2010 pace click here.

About Anthony Candella

Anthony is the founder and Directing Attorney of and has been helping consumers just like you understand and improve your credit and financial situation since 2003.