Lenders Poised To Take Back More Homes

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The number of homes seized by banks last year topped 1 million, according to the foreclosure research firm RealtyTrac. The number would have been higher, if not for the robo-signing scandal that came to light last fall. That prompted many banks to halt or delay foreclosure proceedings. Those delays could spill over into this year.

RENEE MONTAGNE, Host:

NPR's business news starts with foreclosure numbers that are grim.

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MONTAGNE: The number of homes seized by banks last year topped one million, according to the foreclosure research firm RealtyTrac. And the number would have been higher, says RealtyTrac, if not for the robo-signing scandal that came to light last fall. That prompted many banks to halt or delay foreclosure proceedings. Those delays could spill over into this year. Foreclosures are expected to be even higher, as banks continue processing millions of delinquent home loans.

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