For homeowners trying to avoid foreclosures, the period of default can be an especially trying time. Many homeowners who go into default have already been worried about making rising mortgage payments for some time, and once you can no longer make payments, it can be extremely frustrating, and hard to try to find solutions to help you avoid foreclosures.

The opportunities for foreclosure investing in California’s Central Coast may never be better than they are right now, according to new reports that foreclosures in the area have reached an all time high after February’s statistics are in. New figures show that over 2% of all homes in the area are currently in foreclosure proceedings, a height that the state of California has never before seen. In addition, more than 6% of all homeowners are currently behind on their payments, indicating that the figure for foreclosures may still be climbing.

Washington D.C. continues to feel the strong impact of the nationwide housing situation, as new studies report that the area saw a staggering 90% increase in foreclosure in January of 2008 from one month earlier.

Federal Reserve Chairman Ben Bernanke announced Tuesday the need for federal and state authorities to start taking meaningful steps to help homeowners avoid foreclosures, as the foreclosure rate index continues to rise across the nation.

While much of the nation is geared up for 2008 to be the worst year on record for real estate foreclosures, Michigan, traditionally near the top of the list for state’s with the worst foreclosure rate, experienced a substantial drop in property foreclosures during the first month of the year.