Foreclosures and bankruptcy because of foreclosure is on the rise rise nationally. Experts say that it could last for years. A recently released report rates foreclosure risk for 381 metropolitan areas, finding that the risk of foreclosure has jumped 22 percent from January 2007, and 9 percent from three months ago.

In the wake of recent speculation that the United States economy may be entering a recession – or is already in one – the report stressed that defaults continued rising for almost 2 years after the end of the last recession in 2001.

Also aggravating the problem are drops in existing home prices, a situation in which many mortgage borrowers find themselves owing more on their mortgages than their homes are worth. It then becomes more difficult for them to maintain their house payments if they run into any problems, because they can’t borrow against their home.

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