Foreclosure filings have been going up incrementally in the United States since the year 2006. There has been an increase of more than one hundred percent since this year, in the number of filings for foreclosure. RealtyTrac released a Foreclosure market report recently in January of 2009 where it showed that the states of California, Arizona and Florida were the states with the highest numbers of foreclosures during the year 2008. Foreclosure activity in California increased more than 400% since the year 2006. This was followed closely by Florida and Arizona, in that order. Other states with top foreclosures were Ohio, Illinois, Texas, Michigan, Georgia, Nevada and New Jersey. Foreclosures and mortgage delinquencies are continuing to rise every day. Even during these gloomy days hope comes to senior home owners in the form of a Home Equity Conversion Mortgage (HECM) or reverse mortgage.

Read more here – Reverse Mortgages Lowering the Number of Foreclosures