2009 A Record Year for Foreclosures

MSNBC.com has an interesting article online today. It states that 2009 was a tougher year for foreclosures than 2008. It is interesting to me because I consistently hear from people that this crisis is over--- I DON'T THINK SO!

Here is an except from the article:
"The number of households that received a foreclosure-related notice rose 21 percent from 2008, RealtyTrac Inc. reported Thursday. One in 45 homes were sent a filing, which includes default notices, scheduled foreclosure auctions and bank repossessions.

In December, more than 349,000 households, or one in 366 homes, were hit with a foreclosure-related notice. That represents a 14 percent spike from November and a 15 percent jump from December 2008."

Combine the fact that people are still in trouble and that home values are continuing to slide, we have a recipe for a VERY long recovery and I question whether that recovery has really even started.

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