Banks repossessed 1 million homes in 2010
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NEW YORK -- The bleakest year in foreclosure crisis has only just begun. Lenders are poised to take back more homes this year than any other since the U.S. housing meltdown began in 2006. About 5 million borrowers are at least two months behind on their mortgages and more will miss payments as they struggle with job losses and loans worth more than their home's value, industry analysts forecast. RealtyTrac Inc. predicts 1.2 million homes will be repossessed this year by lenders.
