BEHIND THE FORECLOSURE RATE STATS - 3 STATES TOP THE LIST

Anyone losing their home is one person or family too many, but when you hear the stats on foreclosures I think it is important to know the numbers behind the numbers.

We are all likely to be hearing about foreclosures rates for quite some time, and when you do hear them you may find it helpful to consider what percentage of the foreclosed homes are located where.

There is a lot of geographical concentration in the location. That may be an understatement.

Putting together the numbers from RealtyTrac.com it appears that over half of the country's foreclosures from the March stats occurred in just 3 states -- California, Florida and Nevada.

Along with this, consider that these 3 states represent about 19 percent of the USA's population.

Of course, this does not mean that foreclosures are not a national issue. It is because the impact of these three disproportionately high foreclosure-rate states impacts mortgage lending practices across the nation.

As an example, consider that:

• Mortgage guidelines are more disciplined
• Down Payment requirements are generally higher
• Private mortgage insurance is probably going to cost you a bit more

If you are borrower, this is important to keep in mind. But if things are lining up for you otherwise, don't let this deter you. Just be aware.

You can take a look at the RealtyTrac websiteand see these March statistics for yourself.

And do remember, when you continue to hear the monthly foreclosures stats, do your own thinking on what is right or not right for you. Media reports have a way of inducing what might be called a "bad news trance." If can be broken by keeping one's critical thinking skills in constant use.