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The U.S foreclosure rate has hit an all time high in 2009. Lenders are forced to foreclose on homes due to high unemployment rates which has resulted in a shortage of income leaving homeowners with no choice but to default on their home loans.

Many of the big states in the U.S. have recorded the highest number of home foreclosures. One out of every 398 houses in the U.S. is under the threat of foreclosure.

Nevada leads with one in every 33 households facing foreclosure. Currently there are over 34,417 homes that are currently in the foreclosure process. Florida comes in second with a record 165,291 homes, which equates to one in 50 homes facing foreclosure.

Some of the other hardest hit states are California, Detroit, Texas, Virginia, Illinois, Georgia, and Michigan. It has been reported that almost 77 percent of the U.S is facing foreclosure.

The State of Las Vegas has seen as much as 14,861 foreclosures. This equals one in every 54 homes in foreclosure. The state of Florida has accounted for 15 percent of the foreclosures in the country.

How does this happen? Some of the factors include high mortgage rates, and adjusting mortgage rates. In February of 2009, foreclosures hit a record high in the U.S of 117,259, equaling 68 percent more than the previous year in February.

The reasons behind the rise in delinquencies and home foreclosures differ, but there are mainly two basic driving factors. First is the family economic distress that may be related with untimely job loss or internal matters, and second is the slowing stride of home value. Low home price appreciation is the most common reason behind the highest rates of mortgage home foreclosures in the country.

Loan modification is a great way to help homeowners fight foreclosure and help lower the amount of foreclosures in this country. Inquire with your lender about a loan modification plan to help reduce your interest rate and lower your monthly mortgage payment today.

Anthony M. Flores is an expert in do it yourself loan modification , and a consultant in how to do loan modification

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