There is absolutely no sign that the foreclosure problem in the US is even close to an end point.

Data from RealtyTrac shows that there were 3,957,643 foreclosure filings last year, a record. The report also shows that 2.21 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.

Figures for the last month of the year offered little hope of improvement. Foreclosure filings were reported on 349,519 U.S. properties in December, a 14 percent jump from the previous month and a 15 percent increase from December 2008.

Continue reading