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Foreclosures hit record in 2010

Foreclosures hit record in 2010

IRVINE, Calif., Jan. 13 (UPI) -- The number of U.S. foreclosures rose marginally in 2010 from 2009, reaching a record 3.8 million, online marketplace RealtyTrac said Thursday.

The number of homes in foreclosure, which includes those involved in scheduled auctions, bank repossessions or under notice of default, rose 2 percent from the previous year. In 2009, however, foreclosures rose 23 percent from 2008, the firm said.

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In 2010, 2.23 percent of all housing units or one in 45 were involved in a foreclosure filing, up from 2.21 percent a year ago and far higher than the 0.58 percent in 2006.

The number of filings tailed off at the end of the year with 257,747 filed in December, nearly 2 percent lower than November and 26 percent lower than December 2009.

Filings also dropped for the fourth quarter, when 799,064 were recorded, down 8 percent from the fourth quarter of 2009, RealtyTrac said.

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