U.S. foreclosure overload rises

In the first quarter about $227 billion in mortgage loans were seriously behind, but the homes still belonged to homeowners, many of whom wait for foreclosure to move on physically and financially.

While many dread the day they must move out of their homes, "I have even begged them for a foreclosure," said Glen Allen, Va., homeowner Charlotte Jensen, who has already filed for bankruptcy and, with her family, moved out of the house.

Housing industry consultant Howard Glaser told The Washington Post Wednesday "lenders are having an immensely difficult time handling the capacity."

"They are torn between loan modification, short sales, foreclosures -- and they are finding they can't do all these things at once, and do them well, so we're seeing a lot of things falling through the cracks," he said.

Copyright 2009 by United Press International.