According to Bloomberg today, US homeowners in the foreclosure process were an average of 507 days late on payments in 2010 compared to last years record of 406 days late in 2009 (a 25% increase).
According to Realty Trac a record 2.87 million properties received a notice of default last year, despite a 30 month low in December caused by the robo-signing scandal, and that number is expected to climb this year.
A record 1 million homes were foreclosed upon and nearly 7 million mortgages are at least 30 days in arrears, but FNM expects home prices to rise in 2011.
Foreclosures have weighed down U.S. housing prices as the nation’s unemployment rate is stuck at more than 9 percent. follow link Home values may rise 0.6 percent for the year, the first annual jump since 2006, according to Fannie Mae, the largest U.S. mortgage buyer.