Always sounds like a scary word doesn't it?  Well I guess it depends on what side of the coin you are doesn't it? :)

Despite the fact that there have been hundreds of thousands of foreclosure filings this year doesn't necessarily mean that we are are doing so bad. Even though the news reports like the world is ending it may not be the case.  Overall, despite all of the bad news, the economy is somewhat strong and the market will likely turn around (perhaps we shouldn't think 2005 though :)).

That said though, the country has been hit with quite a few foreclosures this year.  Nevada, Florida, and Michigan have been the worst off.  Consumers must learn to be cautions and a bit of obvious advice can be found below can be found here on the is blog regarding making smart mortgage decisions.