New Foreclosure Statistics Released

April 8, 2010 - Washington, D.C. - The foreclosure statistics for February of this year demonstrate that foreclosure continues to be a problem in the United States, despite the various federal programs that were designed to prevent foreclosures from happening.

According to PRWeb, there were about 6% more foreclosures in February 2010 than in February of 2009. On the plus side, this is the smallest comparative year-to-year increase in foreclosures since 2006.

Additionally, February's rate is actually 2% lower than that of January's foreclosure rate, which may signal a slow recovery in the housing market. Surprisingly, some states with the highest foreclosure rates in the nation have seen a decrease in borrowers losing their property, including Nevada, Arizona, and California.

On the other hand, the rate of foreclosure has risen in some states, including, Michigan, Florida, Illinois, Maryland and Utah.

These statistics do not clarify the numbers of homeowners who have suffered illegal or wrongful foreclosure, such as when a bank or lender forecloses on the wrong property, or forecloses on a property where the homeowner is current with loan payments.

The Massachusetts wrongful foreclosure attorneys at Phillips & Garcia will fight for your rights in your foreclosure case. We are committed to protecting your best interests and your family's home and helping you collect the damages you need and deserve to move on with your life. Contact Phillips & Garcia today to schedule your FREE legal consultation - (877) 892-5620.