From Time Magazine
More U.S. homeowners became delinquent on their home mortgage payments in April - piling on top of an already sky high number of houses in foreclosure. As a result, the number of homes facing foreclosure is up 65% year over year as compare to April of 2007. Futher contributing to a free fall in home values.
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Close to 250,000 homes went into foreclosure proceedings in April, up from about 150,000 in the same month last year and up 4% since March.
Nevada, Arizona, California and Florida leads all states with major contributions to the 250000 foreclosed properties.
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