An estimated 240,000 families can avoid foreclosure by refinancing their mortgages using the new FHASecure plan. FHA will allow families with strong credit histories who had been making timely mortgage payments before their loans reset-but are now in default-to qualify for refinancing.

One of 2007’s top stories was the huge increase in foreclosures across the United States. The final numbers have been released by RealtyTrac and they are tough but expected. The worst states hit were markets where speculators walked away from properties or the effects of a miserable Midwestern economy.

The number of foreclosure filings in Illinois nearly doubled last year from two years ago, reports RealtyTrack Inc.

RealtyTrac is a California firm that tracks monthly foreclosure filings. Filings popped up to 215,749 in December from 201,950 in November.

More Than 2.2 Million Foreclosure Filings on Nearly 1.3 Million Properties Reported In USA During 2007.

Contrary to what the press is saying, U.S. housing prices are not falling due to subprime loans. This article will shock you and is critically important if you own real estate going into 2008.

Real estate house prices in the US continue their downward plunge. And since prices are falling, more homeowners find their equity gone and are therefore trying to sell their houses, too, resulting in still more declines.

Over two million homeowners are in foreclosure and many expect they can walk away from their problems by letting their house get sold at foreclosure auction. But more lenders are pursuing homeowners for their financial losses after the foreclosure process is finished.