Foreclourses has become the new real estate Four-letter word.

In March one in every 538 households in the U.S. received a foreclosure notice with Nevada (1 in 139 homes) leading the pack, followed by California (1 in 204 homes), Florida (1 in 282 homes) and Arizona (1 in 283 homes).

And the bad news is just everywhere...CNN, Fox News, USA Today, the Web, etc. etc.

To assist homeowners Real Estate Wiki (see previous entry on launch of the new wiki in real estate) has added a bunch of Frequently Asked Questions (FAQs) covering questions such as:

• Can I Negotiate the Price of a Bank Owned Property?
• What Can I Do To Avoid A Foreclosure?
• How To I Negotiate With The Lender To Avoid Foreclosure?
• How Does A Foreclosure Work?
• What Happens To The Mortgage Loan After A Foreclosure?
• What is a Better Option Foreclosure or a Short Sale?

In addition, over 30 definitions were added to the Glossary of Terms providing explanations for concepts such as Foreclosure, Judicial Foreclosure, Strict Foreclosure, Deed-In-Lieu of Foreclosure, Decree of Foreclosure, Right of Redemption, etc.

Various key organizations, such as HUD, First American CoreLogic, Experian, Equifax and RealtyTrac, have also jumped in and provide information and assistance to home sellers - many also offering to help channel it to Real Estate Wiki.

If you have any information that can help brokers, agents or home owners regarding foreclosures, short sales, bank owned properties, auctions, etc. please visit www.RealEstateWiki.com and add your contributions as soon as possible.