Report Forecasts Over 1 Million Foreclosures in 2010

Over 1 million households could lose their homes to foreclosure this year as mortgage lenders process a massive backlog of delinquent loans. Nearly 528,000 homes were taken by lenders in the first half of this year, The Associated Press said, citing a report by RealtyTrac Inc., a foreclosure listing service. Last year, lenders foreclosed on 900,000 homes.