Foreclosure Crisis Continues: Stop Foreclosure Today

Homeowners fell behind on mortgage payments in record numbers during the first six months of 2009, according to industry firm RealtyTrac. A record 1.53 million properties were in the foreclosure process -- default notices, auction sale notices and bank repossessions -- during the first six months of 2009. That was 9% more than the previous six months and 15% more than the same period of 2008.

There were a total of 1.91 million filings resulting in 1 out of every 84 U.S. properties receiving at least one filing in the first half of the year. Banks repossessed a staggering 386,800 properties. What this means is, despite the intensity of the efforts on the part of government and lenders we don't have a handle on foreclosures yet. And there was no recorded improvement in June, the last month of the cycle. More than 336,000 homes reported foreclosure filings, the fourth straight 300,000-plus month. Filings were up 33% over last June and nearly 5% compared with May.

Foreclosure activity continues to increase to record levels. Unemployment-related foreclosures account for much of this increased activity, and the high number of borrowers who find themselves owing more on their mortgages than their homes' are now worth represent a potentially significant future risk.

If you or someone you know is facing foreclosure, please visit Foreclosure Shield to learn how to stop the foreclousre process and save your home.