Are foreclosures on the rise again....

The hard data is saying NO, the opposite is happening, foreclosures are dropping... From the data on the neighbouring chart, foreclosures are roughly equivalent to the 2004 rate, and the red line, pending foreclosures, is trending lower than it was in 2004.  From the data, it appears the risk of foreclosures in the market place is very low currently, 1/3 of the amount at the height of the financing meltdown