A new bill signed by President Obama helps to protect tenants in properties that are targeted for foreclosure. The bill – S. 896, P.L. 111-22 – was signed on May 20, 2009 and includes a provision for a nationwide eviction notice of 90 days for tenants that live in properties that are foreclosed on.

From coast to coast, headlines were recently announcing lower foreclosure rates, even in some of the states that have been ravaged by the bursting of the housing bubble. Some would like to see this as an indication that recovery is just around the corner in the real estate market. However, many experts disagree with this point of view, pointing to a variety of factors that they expect will further depress home values and contribute to rates of foreclosures rising again.

The Center for Responsible Lending (CRL) estimates that one million new foreclosures have been filed so far in 2009. The news comes on the heels of the release of the first quarter 2009 National Delinquency Survey from the Mortgage Bankers Association (MBA) which reveals that 12 percent of all mortgages are now delinquent, the highest level in the 37 years the MBA has been measuring delinquency rates.

Foreclosures, REOs (Bank Owned Real Estate) and NODs (Notice of Defaults) were the headline news beginning in 2007 and for most of 2008. The number of foreclosures went through the roof, over extending housing supplies, creating blighted markets, and causing unheard of price reductions on existing and new housing inventory. Then in the first quarter 2009, things changed.

An industry report by the Mortgage Bankers Association shows that a record 12% of those with a mortgage are behind on their payments or in foreclosure.

The foreclosure crisis continues to affect increasing numbers of homeowners in the United States, driven by such factors as rising unemployment. Lenders are also suffering the effects of the foreclosure crisis, and having to deal with uncertainties in the credit market that could lead to still further losses. The federal government is seeking to find ways to ease the current economic stress, and recently passed new legislation in hopes of helping recovery come sooner.

While fans' attention is on last night's American Idol winner Kris Allen, we would like to go back to another winner's story who has been hit heart by the economic recession and foreclosed house.

According to Real Estate Professionals and most of the major indices, the beleaguered housing market has finally hit the bottom or is only weeks away from being at the bottom of the market.

Just as it looked like the Real Estate Market was beginning to stabilize, the Real Estate market is rocked by the news of Chrysler and GM Dealership Closures.

RealtyTrac’s monthly report released Wednesday threw cold water on anyone thinking the recession is over, or even easing, as the report indicated foreclosure filings hit another monthly record in April.

California cities which have been hit hard by foreclosures are seeing multiple offers creating a buying frenzy and price increases.

Hundreds of thousands of homeowners in the country are facing difficulties in making their mortgage payments on time. However, not many of them know that the first thing they should do is to go or to speak with their mortgage lender. It's also in lender's best interest to help the struggling homeowner to avoid foreclosure.