If you think that you will not be affected by the increase in foreclosure, don't kid yourself

Even if your home isn't threatened, you can lose a lot by the growing rate of foreclosure.

The numbers are staggering. Nevada has the highest foreclosure rate, according to RealtyTrac. 1 in 54 homes received a notice in the first quarter which is 3.6 times the national average. California ranks second, followed by Arizona.

243,353 people received notices in April. This is a major increase from last year when only 147,708 received a foreclosure notice. This was also a 4% increase from March. The numbers are based on a report from RealtyTrac Inc.

Foreclosures are increasing because of a real estate investors that purchased homes thinking that home prices would continue to increase and due to shady sub prime lending companies. Without swift and decisive action, foreclosures they will continue to rise.

Why should you be concerned with the rise in foreclosure rates?

The trickle down effect of foreclosure can also have a serious impact on your community. A single foreclosure can cost as much as $34,000. Trash removal, unpaid utilities, sheriff and police costs, inspections and potentially even demolition of the property all contribute to that cost. Property values plummet all around the foreclosed home. In some housing markets, up to $220,000 in reduced property value can be expected

Crime is common effect of rising foreclosures. Foreclosed homes are usually looted hours of being vacant. Aluminum siding, gutters, doors, windows, molding, appliances and basically anything else of value is stripped from the home and sold for profit. These homes are typically wrecked in the process as well, with looters using sledgehammers to break through walls to remove valuable copper wiring. The house is literally vulnerable to looting. Many abandoned houses become dumping grounds for people that don't want to pay for trash removal.

We all have a responsibility to act aggressively to help families stay in their homes and to stem the tide of foreclosures that continues to serve as a serious drag on our overall economy.

If you have a neighbor facing foreclosure, let them know that there is help available. Their problem could soon become your nightmare. There is help available for anybody facing foreclosure. Until Congress acts, there are many options available to those facing foreclosure. For those who need it, there is legal help and many lenders are willing to extend the grace period for late payments.

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