The Dallas Foreclosed Homes scene continues to offer great deals for investors, as new statistics show that the current foreclosure rate in the city is up over 40% from May of 2007. With more than 4,400 homes currently scheduled for auction during the first week of the month, the market is absolutely flooded with new Dallas foreclosure listings, as many experts predicted it would be at the beginning of the year.

The market for Houston Foreclosed Homes appears to not be rising as rapidly as the rest of the country, but it is still a market worth watching and investing in.

As the foreclosure epidemic sweeps through the gulf regions of states like Alabama, Mississippi and Louisiana, victims of Hurricane Katrina are losing their homes once again, but not to any force of nature. More and more homes are going to auction along the Gulf Coast, and as foreclosures increase, families who have just gotten their lives back together are once again going to have to start over. But fortunately, many investors have been able to assist homeowners in this region by buying their properties from them before they are foreclosed, allowing them to avoid a credit ruining foreclosure and pay off their debt, while the investor gets a great deal.

The Los Angeles foreclosed homes market continues to grow in 2008, as new statistics are indicating that first quarter foreclosures were up 130% over the first quarter of 2007.

While filings of default notices for Miami foreclosed homes were down for the month of March, they are still very high year over year, as the city boast one of the highest rates of foreclosure in the country.

New reports are being issued showing that home prices across the nation are continuing to fall drastically as a result of the rising trend in foreclosure. The national median price of a single family home fell by nearly 9% from February of 2007 to February of 2008, with some of the areas with the lowest median home values also laying claim to some of the highest rates of foreclosure.

In the past, undergoing a foreclosure not only ruined your credit and lost you your home, it also left you with a huge tax burden at the end of the year. Even though you retained nothing from the amount garnered by your property’s sale, the IRS used to count the sale as income, and expect it to become part of your taxable income.

Now that the first quarter of 2008 is officially over, experts have begun to analyze foreclosure data to determine some of the trends in the first part of the year. The first reports are indicating that in several major metropolitan areas, foreclosures have risen drastically.

The month of March saw a huge increase in bankruptcies and bankruptcy filings nationwide, sparking further concern that the economy is in a recession brought on largely by the slump in the housing market.

As Massachusetts’ foreclosure rate continues to rise, more and more communities outside of major metropolitan areas are starting to see the soaring levels of foreclosure that bigger cities have been experiencing around the country for years.