According to RealtyTrac, an online provider of real estate data, foreclosure filings in the United States came in at 2.3 million in 2008. That's an increase of 81 percent from one year earlier, and the highest number of yearly foreclosure filings that the United States has ever seen.

Yesterday, according to a story in the New York Times written by reporters Sheryl Gay Stolberg and Edmund Andrews, Pres. Obama unveiled a new housing plan designed to slow the number of foreclosures across the country.

Halting Foreclosures

While unveiling his plan, Obama said it would help as many as 9 million U.S. homeowners refinance their mortgage loans or avoid foreclosure. The president said this would help stabilize falling housing prices.

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