Foreclosures On the Rise


Foreclosure continues to be a stubborn problem that won't go away, despite government efforts to date, new data shows. But there are some bright spots.

First the really bad news: Foreclosure filings were reported on 367,056 properties in March, according to data firm RealtyTrac. That's the most default notices, seizures, and foreclosure auctions since RealtyTrac began issuing monthly reports back in January 2005.

Foreclosures are likely to keep rising despite renewed efforts from the biggest federal foreclosure prevention program, which has approved permanent home loan modifications for a third of a million borrowers. That's a third of a million foreclosures avoided or at least made much less likely.

What's going on?