Mary Ann Herrera of San Antonio, Texas, illustrates her foreclosure frustration with spray paint:

It seems as though Herrera’s “painted public plea” worked … at least for now.

After eight months her mortgage loan was eventually modified to a lower amount; however, she’s still having trouble making ends meet because of the debt she racked up while in financial dire straits.

Hopefully, she can negotiate a more affordable rate with her lender through the “Making Home Affordable” program before losing the house to foreclosure.

… at least until the 2009 holiday season is in the rear view mirror, according to the Atlanta Journal-Constitution:

“We’re asking banks to withdraw… Why should banks subsidized by the government and protected by insurance paid for by homeowners put people out on their homes at Christmas?… We know the banks that have loans in the state. We’ll have a roll call.”

The civil rights activist points to Wachovia Bank’s decision in October to place a temporary moratorium on foreclosures, which saved 1,400 homes in the “Peach State” from immediate repossession, as proof that lenders can make compassionate decisions. If not, Jackson intends to vociferously highlight the banks that ignore his most recent request from the steps of the Fulton County Courthouse. Keep hope alive!

Sometime in 2010, according to the USA Today:

“A second wave of foreclosures is poised to hit the market, potentially undermining housing recovery efforts as more homes add to the glut of inventory and drive down prices. These homes largely represent loans that are delinquent but have not yet resulted in foreclosure sales.”

The reason? The report lists several:

• Moratoriums
• Overwhelmed lenders
• Modifications
• Asset write-downs

Add it all together and Mark Zandi from Moody’s, which is “among the world’s most respected and widely utilized sources for credit ratings, research and risk analysis,” predicts that about 2.4 million homes will be lost to foreclosure next year.

That’s nearly a half-million more defaults that occurred in 2009 based on their data.

If you’re in financial turmoil do everything you can as soon as possible to not add to that potential tally. Remember that professional foreclosure consultants can be reached right here.

It’s free help.

On the flip side, be sure to search Foreclosure.com today if you’re in the market to purchase a foreclosed home in your area. It’s FREE for seven days. Click here.