As banks begin to lift the moratorium on foreclosure, the number of Real Estate Owned (REOs) or foreclosed properties has begun to rise significantly. According to Realty Trac ®, March produced the highest number of foreclosure filings ever recorded!

Miami, Florida, like many other US cities, is suffering from a drastic rise in home foreclosures. According to foreclosure filing statistics from the Miami-Dade County Clerk of Courts , county foreclosures in 2009 are up 62% since last year.

Millions of people find themselves behind on their mortgage and in a situation where they owe much more on their loan than their home is currently worth. While some homeowners will look for an immediate solution that's provided by a short sale or even bankruptcy, others continue to make valiant efforts to pay their mortgage by offering as much as they can to stay within shouting distance of their monthly payments.

While Goldman, Wells, and JP Morgan’s reporting of positive 1st Quarter 2009 profits helps to start the slow recovery process, we are not out of the woods just yet.

In response to government pressure, some large mortgage companies had issued moratoriums on foreclosures while awaiting details of the administration’s housing-rescue plan. As a result of these self-imposed moratoriums, as well as legislation introduced last year in states like California that limited foreclosure activity, foreclosure sales had dropped in the second half of 2008.

There are homes available. Who wants them? No one it seems. Even the banks don't want them back. Please consider Banks Starting to Walk Away on Foreclosures.

For months now all we hear is how many foreclosures are happening “all around us.” RealtyTrac.com for example has made a huge amount of money focusing on nothing but foreclosures.

These days you don't have to be a homeowner to be afraid of foreclosure or to be concerned as to how to pay your mortgage on time to prevent a foreclosure. You can be someone like Lisa Brown from Long Island that is foreclosed despite not owning a house and paying a rent on time.

New York, New Jersey, Wisconsin and Vermont have the longest time to foreclose the house after the NOD is filed. The challenge for people in these communities is that they may think they have all the time in the world. And that mindset could prove costly.

Realtytrac this morning released its foreclosure tracking index shocking many real estate and market analysts with the fact that in the February of 2009 the foreclosures have increased by 6 percent. Realtytrac says this is 30 percent higher since the February 2008 and is the third highest foreclosure increase in reported history.

Eli Tene, loss mitigation expert in real estate field, sends open letter to government officials urging serious consideration and education of a short sale.

At the urging of Rep. Barney Frank, chairman of the House Financial Services Committee, J.P. Morgan Chase, Bank of America and Citigroup all announced temporary halts on foreclosures Friday.