This chart shows the number of Foreclosure Notices filed each month. A
Foreclosure notice is filed when a homeowner is behind on their payments and the lender turns
the file over to a lawyer to file foreclosure. Some homes may have a foreclosure notice filed for
more than one mortgage. For example a 1st mortgage and a 2nd mortgage can both have a notice filed.
Not all foreclosures filed result in an actual foreclosure. Why? As in the case mentioned earlier,
there could be two notices filed, but only one actual foreclosure takes place, the owner could
bring the loan back current, thus cancelling the foreclosure,the owner could sell the property
which would cancel the foreclosure or the owner could turn the property over to the lender using the
"Deed In Leu Of Foreclosure" process.
