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Reuters News (05/15/07) - U.S. Home foreclosures fell slightly in April from the two-year high set in March.  Althought the total was down 1 percent from March, the April total was 62 percent higher than a year ago.

States with the highest foreclosure rates were Nevada, Colorado, Connecticut, California, Ohio, Georgia, Florida, Arizona, Illinois and Michigan.  California reported the largest number of foreclosure filings - 30,505, down 3 percent fro March. 

Avoiding Foreclosure (excerpt from Realtor.org)

A few options for home owners who might be losing their houese due to forelosure: Homeowners in this situation may have more options then they know:

• Forbearance. Lenders may let a borrower pay less than the full amount of the mortgage, or skip a few payments, if there is a reasonable plan to become current on the loan.

• Reinstatement. A home owner may be able to make a payment that covers all of the previous late payments, usually at the end of a forbearance period.

• Repayment plan. Lenders may allow a borrower who has fallen behind to make additional payments each month until the amount past due is paid.

• Loan modification. Lenders will sometimes change the terms of a mortgage to help home owners avoid foreclosure.