Foreclosure Sign (Image: Flickr)

From February to March, foreclosures were up 17%. Comparing March 2009 to March 2008, foreclosures are up nearly 50%. In the first quarter of 2009, the report indicates that foreclosures are up almost 25%.

Foreclosures are an epidemic that President Barack Obama has targeted to try to get under control. He has talked about a plan that would help up to 9 million people with mortgages avoid foreclosures. The White House appears to be prepared to spend tens of billions of dollars to try to slow down this trend.

According to most experts, things would get a lot worse before they got better within any type of plan to help both the borrowers and the lenders. Banks are just now becoming more aggressive in going after those who have defaulted on their loans.

Post from: EveryJoe

Foreclosures in the U.S. up 17% in March