Loan modification and Foreclosure site

Foreclosures have hit nearly every area hard over the past 2 years because of the down turn in the real estate market and the economy in general. However certain areas have been hit the hardest:

1. Michigan: Michigan’s economy has taken a huge hit overall. The unemployment rate in Michigan is around 15% which is 50% higher than the unemployment rate for the U.S. as a whole. The real estate market is still in turmoil. Although there are signs of recovery, it will not come in a day, week or year. Expect Michigan’s foreclosure and unemployment rate to stay high for years to come.
2. Florida: Florida’s economy has taken a hit, but not any worse than every other state. What makes Florida’s situation so disheartening is its real estate market. Property values in Florida were consistently rising 20+% in the mid 2000’s which is not healthy or realistic. As they say, the bigger they are the harder they fall. The past 2 years Florida has experienced a surge in the number of foreclosures. Florida will recover eventually.
3. Nevada: Nevada has struggled similarly to Florida, yet on a much smaller scale. Home prices in Nevada are roughly half of what they were when they peaked in early 2007.