Insiders expect the number of foreclosures to increase in 2011

12/13/2010 | Wall Street Journal, The

Rick Sharga, a senior vice president at RealtyTrac, said that 2011 could be a peak year for foreclosures. Others also expect the number of foreclosures to increase as troubled mortgages work through the system. In 2009, about 900,000 bank repossessions took place, followed by an estimated 1.2 million in 2010. The forecast increase in 2011 is partially because of a temporary suspension of foreclosures this year, many of which will likely be completed in the new year.

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