Mortgage foreclosure filings on a national scale kept a steady pace throughout 2007, reports RealtyTrac, a California-based real estate marketplace and an expert in foreclosure data. Despite government and lender efforts to come to the rescue of homeowners in distress, the figures toward the end of the year showed no improvement at all. In fact, there was a minor push upward in the last few months. Foreclosure filings include correspondence informing homeowners that they are in default or that their property can be auctioned off or repossessed by a bank.

As anticipated, Nevada still lingers at the top of the state list for most foreclosure filings. Regrettably it has held onto the position for most of the year. About 3.4% of households in the state were mailed these unwelcome filings, which is over three times the nationwide average, says RealtyTrac. It's safe to add that a large portion of them are in Southern Nevada, including Las Vegas, Henderson and North Las Vegas, where the market has been hit hard and where most of the state's population lives.

Other states ranked high on the list are California, Florida and Michigan. Arizona used to occupy a spot in the dreaded top four, but to its relief it was replaced by Michigan.

RealtyTrac's forecast for the first half of 2008 is somewhat encouraging as it says that filings will not get any worse. They'll stay at about the rate they're doing now, which may be considered good news. It could be that 2007 turns out to be the very bottom when scores of subprime mortgages went bad burdening many lenders with serious losses and forcing dozens of others into closing their doors.

On the positive side, buyers eyeing to make a purchase find the market soft in several areas, especially on both coasts. Las Vegas is one of the most opportune locations with a large collection of repos and vacant homes sitting out there on the market unsold. Ready to be bid on. In addition to that, mortgage interest rates still hover under 6%, offering financing that is hard to beat.