Anyone who has ever struggled with their finances knows just how frustrating and frightening it can be. In recent years, more and more people have experienced personal debt due to the sluggish economy. In some cases, people live in fear of losing their home, and will do anything to stop home foreclosure. Recent news suggests there is some relief in sight, but experts are cautioning people not to celebrate just yet.

The numbers are out, and last year's foreclosure filings were down 34 percent from 2010. In total, there were 1.9 million foreclosure filings, the fewest filings since the recession began in 2007. Despite the good news, some predict that there could be more foreclosure filings in 2012 because of delayed action by banks.

The reason for the delay in foreclosures was due to documentation issues. It was discovered that many banks were signing off on foreclosures without reviewing the documents. In response, many banks stopped foreclosures, and even went back to review previous foreclosure filings.

Nationally, the number of foreclosure filings in December was the lowest since November 2007, and also 20 percent lower than the number of filings in December 2010. Additionally, fourth quarter total filings were down 27 percent from 2010.

RealtyTrac, a foreclosure listing firm, collected the data. They predict that the number of foreclosure filings this year will be higher than last, but will be less than the number of filings seen in 2010 when they were at their highest.

The poor economy will likely continue to affect people. Many may find that they are simply unable to pay their mortgage. Individuals in that situation should be proactive, and should investigate the debt relief options that may be available to them.

Source: USA Today, "1.9 million 2011 foreclosures are fewest since 2007," Jan. 12, 2012