Canada residents are packing up their bags and heading to states like Arizona to get a glimpse of the foreclosure properties being sold at a fraction of their market prices. Also, nationwide, home prices have declined considerably, by as much as 30 percent in some cities. Such decline is generating even more buyer interest.

Each time you look at the real estate section of your newspaper, you will notice the huge listings of real estate owned properties or REOs. These properties are actually foreclosure homes that have been returned to the mortgage holder because they were not sold at the foreclosure auctions.

The foreclosure crisis is certainly hitting the working class quite hard. It claimed another victim in the person of Ernestine Anderson, a 79 year old – jazz vocalist who sang with famous singers such as Ray Charles and Quincy Jones.

As the nation strived to overcome the hurdles brought about by the mess in the housing sector, the foreclosure rate of Washington DC seem to be moving at warp speed. In fact a year to year analysis report showed that the region currently has the fastest growing rate in terms of foreclosure.

All kinds of things are happening across the US as well as in San Francisco and the one situation to blame of worsening of conditions is San Francisco foreclosure homes. In the first quarter of 2008, San Francisco recorded 2,163 properties in San Francisco foreclosure listings and the rate was one per 338 homes. The percentage from the last quarter of 2007 was 17.43% and the percentage change from the first quarter of 2007 was a whopping 154.17%. In such a situation, you can only expect a worse case scenario.

For many months now, the federal government has been exploring all sorts of solution in order to curb the enduring foreclosure crisis. Thus, it came as a surprise when home sale activity improved in states, which are considered to be the epicenter of the housing industry mess.

Distressed homeowners already have enough on their plate without having to worry about falling victim to mortgage rescue scams. Sadly, the number of foreclosure scams reported in the last couple of years has increased dramatically.

The rising tide of foreclosure is obviously still wreaking havoc in many cities across the nation. In Connecticut, the hardest hit by the housing crisis is Windham County, with foreclosure filings that have reached 23 out of 1,000 homes. Statewide, foreclosure rate has soared by 40 percent compared to last year.

Considered to be one of the biggest foreclosure scam in the history of Maryland, a couple was charged by federal authorities for masterminding a mortgage rescue operation, reportedly worth $35 million.

New statistics show that areas of the country near military bases or that house a significant population of military families are seeing very high rates of foreclosure. The Joint Economic Committee released a report today detailing that the average foreclosure rate around the 24 biggest military bases in the country is significantly higher than the national average for the nation, which worries many legislators and military officials. Usually the Veteran Affairs, or VA, department seeks to provide military families with low cost loans, but some are speculating that many families may have been lured by the draw of sub-prime loans with very low initial costs in recent years and foregone the VA department mortgage loans completely.