The Associated Press reported yesterday that the foreclosure trend is slowing. They claim the end of the crisis is in sight. That may be the case, but it will most likely be a slow, steady process. 
The report is basing there theory on cities like Las Vegas, Phoenix, and Miami having a decline in delinquent mortgage payments. However, there are statistics that show the housing market is still troubled because of the high number of distressed properties. More than 15% of homeowners have had a late mortgage payment, which is a record. Even more troubling is almost HALF of those people are three months or more behind which is up form the average of 20%. These numbers indicate that many more homes could face foreclosure.
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