Indiana is staying at the top for having the highest foreclosure rate of any other state in the nation. It has put itself in the top ten ranges for the amount of foreclosures in Indiana in July. There was one house within about 600 that was foreclosed on. National averages ranged one for about every 700.

Foreclosure is a way that satisfies the claim held against a mortgager when they can not pay their house payment. The idea is that the lender can sell the home or property to regain their money. With the large amount of Indiana foreclosure homes and the falling economy, not many of the lenders are gaining anything back. They are, in fact, going out of business, themselves for lack of ways to get their money returned.

The real estate market has been a buyers market for many years prior to the decline of the housing market. In certain areas of Indiana there are thousands of homes for sale through local real estate brokers and are staying there for many months before they are being sold. Some are still there since last year when this started. The numbers also do not count the amount of homes which are still vacant from existing foreclosures and not ready to be put back on the market.

There are for sale signs everywhere you look. This is a direct result of the breakdown in the market of subprime lending and the standards used to decide who to sell a home to. Stricter standards might have prevented this from happening.