People often misuse the term "foreclosure." Foreclosure is a series of events, not a state of being. Lenders don't foreclose on homeowners; they foreclose on property. 

Tara-Nicholle Nelson, Host of Savvy Woman Homebuyer on FrontDoor.com, real estate lawyer, author and broker addresses the issues facing so many homeowners in today's market.

Distressed homeowners facing foreclosure, need to know their rights and what options they have.   There's also opportunities for buyers in a distressed market . You can find bargains in the foreclosure market, but know what you're getting into first.

Foreclosures are hitting record numbers across the country. The overall U.S. foreclosure rate last month was one filing for every 557 homes. Nearly a quarter million homes across the nation received at least one notice from lenders last month related to overdue payments. Feb 2008 marked the 26th consecutive month with a national year-over-year increase in foreclosure-related filings.

To assist homeowners, FrontDoor.com, a new real estate Web site powered by HGTV, is offering a foreclosure guide that provides much needed resources to successfully navigate and understand today’s complex real estate market. (http://www.frontdoor.com/foreclosures ).