We have discussed this in the past… the amount of hidden inventory continues to rear it’s ugly head, and the banks are finally moving more of their properties through the pipeline. What does this mean? If you or someone you know and love is in jeopardy of losing their home, get help sooner than later. Agree or disagree??? Let me know your thoughts by leaving a comment below.

This article is written By Les Christie, staff writer – August 12, 2010: NEW YORK (CNNMoney.com) — The latest foreclosure numbers carried a mixed message: They’re up 3.6% from the month before but down 9.7% from 12 months earlier.

In July there were more than 325,000 foreclosure filings — including notices of default, auctions notices and bank repossessions. That is the 17th month in a row total filings exceeded 300,000, said RealtyTrac’s CEO, James Saccacio.

“Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July,” he said, “have been offset by near-record levels of bank repossessions, which increased on a year-over-year basis for the eighth straight month.”

A near record number of people lost their homes to mortgage payment problems in July. Lender repossessions amounted to 92,858 homes, the second highest monthly total ever behind the 93,777 recorded this May.

Repossession is the final stage in the foreclosure process. People can stay in thier homes until the point that the bank takes posession of the home or sells it at auction.

Please understand… as of right now, the banks are being much more proactive about removing homeowners from their homes. Once it goes to sale, experience shows that it’s probably not going to be favorable.