Hard Stopping the Foreclosure Train!

The U.S. housing market witnessed its smallest annual increase in foreclosure activity in four years last month.   WooHoo!!

But - Foreclosure filings were reported on more than 308,000 American homes in February. That's a 2 percent decline from January but a 6 percent increase from a year earlier. All told, February represents the 12th consecutive month with more than 300,000 foreclosure filings.

The number of homes in foreclosure across the U.S. in 2009 climbed to 2.8 million, an increase of 21% over 2008 and a staggering 120% jump since 2007.

2.21% of all U.S. housing units—one in 45—received at least one foreclosure filing last year.

Don’t expect foreclosures to become rare any time soon.

The national unemployment rate now stands at an uncomfortably high 9.7 percent.

There are 5 million homes that are over 25 percent underwater.