The unemployment rate in US is at a 26 year high, reaching of 9.8%. Unfortunatelly it isn’t expected to peak until the middle of next year.  The sad prediction the crisis is not over yet it is about to be  true.

the foreclosure ratings continue to be dominate by Arizona, California and Florida. Nevada had the highest rates till now this year. in second came Arizona followed by California, Florida, Idaho, Utah, Georgia, Michigan, Colorado and Illinois.

The US economy  seems to becoming out of recession, but, even so, the rising jobless crisis has pushed up foreclosure property rates by more than 5% as predictions

The latest researche from RealtyTrac releaved that the foreclosure crisis affected nearly 938,000 properties in the July to September quarter, compared with about 890,000 earlyer this year.

Sometimes  mortgage companies allow unemployed property owners three to six months for searching for a job whitout paying mortgages, but, even so, the problem isn’t solved.

According to Rick Sharga, RealtyTrac’s senior vice president for marketing: ‘The sheer scale of the problem is also preventing the loan modification programmes from having the kind of impact we’d all like.’

500,000 property owners have received help since the Obama administration programme  was launched in March, but the number of borrowers getting help are still exceeded by the number of new defaults.

Analysts have predicted a new wave of foreclosed properties hitting the real estate market next year and that could cause further depress property prices.

In September banks repossessed nearly 88,000 homes compared with about 76,000 in August, because of a massive financial distress of some property owners. Rick Sharga said that unemployment is the main reason property owners are falling into trouble. This continues foreclosures are set to hit about 3.5 million this year. There were more than 2.3 million in 2008.