Foreclosures poised to hit 3 million this year

SAN FRANCISCO (AP) - December 8, 2010 RealtyTrac says the U.S. is still on pace to see more than 3 million households receive some sort of foreclosure notice this year. That would set yet another record from last year's all-time high of 2.8 million.

Spokesman Rick Sharga says unemployment remains stubbornly high and there's likely to be one new foreclosure action for every 6 to 10 jobs that are lost.

That said, realtor Carol Greco of Long & Foster Realtors in the greater Washington area, says there are some tremendous opportunities out there for prospective home buyers.

She also foresees little movement in home values in either direction.

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