Can you believe that foreclosure estimates are set to double in 2011? According to Rick Sharga, a senior vice president of RealtyTrac, Inc “2011 is going to be the peak”. They say that 1 in every 45 homes received a foreclosure filing in 2010. That’s a record 2.9 million filings. One million of those filings actually resulted in the loss of the property. RealtyTrac, Inc is estimating that 1.2 million could lose their homes in 2011.
If these numbers prove true, these estimates will completely eclipse earlier reports that only 500,000 homes will be put on the market due to foreclosure.
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