The housing market in Florida and elsewhere appears to be slowly inching its way back, but before it makes too much progress experts say that 2012 will likely see another surge of foreclosures and a drop in real estate prices.

According to reports, a large wave of foreclosures is expected to hit the country as banks get more aggressive with the 3.5 million mortgages that are currently considered seriously delinquent.

A seriously delinquent mortgage was defined as one that is four months in arrears. This second wave of foreclosures is also expected to lower housing prices, experts say, as more foreclosure properties being to flood the market.

RealtyTrac, a real estate tracking firm, said about 1.9 million homeowners had foreclosure complaints, default notices and other actions filed against them in 2011, which was a steep drop from the 2.9 million filed in 2010.

However, a RealtyTrac spokesperson said that lenders showed signs of pushing through delayed foreclosures in some states during the second half of 2011, and that is expected to continue in 2012.

Foreclosure cases were delayed in 2011 as banks tried to address legal problems with their foreclosure filings, including allegations of "robo-signing" and other inaccuracies. Many of the lenders are still in hot water with federal officials for the unlawful practices.

The new year could also bring new opportunities for distressed homeowners. The Federal Reserve has asked Congress to look at additional programs for homeowners in trouble, like reducing the principal on homes that are underwater.

For homeowners who find themselves in trouble with their mortgage payments this year, it is a good idea to contact an experienced foreclosure defense attorney who can go over your options and help you make an informed decision on what to do next.

Source: The LA Times, "Foreclosures expected to rise, pushing home prices lower," E. Scott Reckard, Jan. 12, 2012