(Reuters) Americans brace for next foreclosure wave

…a painful part two of the slump looks set to unfold: Many more U.S. homeowners face the prospect of losing their homes this year as banks pick up the pace of foreclosures.

“We are right back where we were two years ago. I would put money on 2012 being a bigger year for foreclosures than 2010,” said Mark Seifert, executive director of Empowering & Strengthening Ohio’s People (ESOP), a counseling group with 10 offices in Ohio.

“Last year was an anomaly, and not in a good way,” he said.

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Posted in * Economics, Politics, Economy, Housing/Real Estate Market, Personal Finance, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

One comment on “(Reuters) Americans brace for next foreclosure wave

  1. Cennydd13 says:

    I get the impression that it’s all [b]strictly business and nothing personal[/b] with these bankers. How they can justify throwing families out onto the street is beyond me. There has got to be much more protection from foreclosure for families who are struggling, and so far, the government has been doing a lousy job of ensuring that nobody gets tossed out while struggling to make ends meet.