RealtyTrac, online site for foreclosure properties, recently reported that over 234,685 homes were filed in foreclosure last month, of which 51,393 were foreclosed upon. That is 10% more then in February. The filings were also 57% higher this March, then last March, and 5% up from Feb. A senior economist, Jared Bernstein, with the Economic Policy Institute says that, "What this report shows us is that the housing market correction is ongoing and we shouldn't expect the subprime problem to vanish anytime soon,".

According to James Saccacio, the CEO of RealtyTrac, the high number of filings is an indicator that borrowers are starting to just leave the homes behind after defaulting on their payments. Normally, if a home goes into foreclosure it goes to public auction, only going to the bank if it does not sell, but in the case of the owner walking away, the home goes straight to the bank, who tries to sell it at open market.

So far Nevada is at the top with the highest number of foreclosures, followed by California in 2nd, and Florida in 3rd.