Bank Home Seizures Reach Record Levels in April 2010

Home seizures by banks reached a record high in April 2010 with over 92,000 American homes being seized as banks increase their foreclosure efforts. With more seizure activity, it stands to reason that U.S. homeowners will see an increase in wrongful foreclosure lockouts and trashouts across the country. See the related video story here.

RealtyTrac, Inc. reported a decline in the number of new foreclosure filings last month. Even though that statistic sounds promising, it was blunted by the record setting numbers of foreclosure seizures by banks. And, there appear to be signs that millions of more foreclosures are ahead for the country with nearly 12 percent of all households having missed at least one mortgage payment or were being caught up in a foreclosure for the month of March.

Among the states hardest ht by foreclosure activity in April was Nevada, with 1 in every 69 households receiving a foreclosure notice. Next on the list were Arizona, Florida, California and Michigan. We have been hearing foreclosure seizure stories, though, from states other than just those five.

 

Click here to read “Foreclosure Seizures at Record Levels.”

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