According to foreclosure statistics, Washington D.C. ranked 41st in the nation for foreclosures in 2007. D.C. had one of the largest percentage increases in filings over 2006. Astoundingly, these numbers rose another 90% in January 2008 over December 2007 alone where other metropolitan areas, such as Chicago, saw a drop in foreclosure rates in January.

One of the reasons given for the rise is that Washington D.C. consists almost entirely of urban environments. Nationwide trends show urban areas hardest hit by foreclosure. Without rural or suburban areas to relieve the statistics, the numbers for Washington D.C. are bleak.

Foreclosures are also expected to rise even further in 2008. Many variable rate mortgages are scheduled to readjust this year. 2008 is forecast to be one of the worst years for foreclosures in history.

Foreclosure doesn’t have to happen. Many Washington D.C. families can take steps to save their home, such as bankruptcy. Talking with a Washington D.C. bankruptcy attorney about your options is a simple step toward avoiding foreclosure.