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More homes were seized by lenders through foreclosure this summer than in any three-month stretch since 2006.

Home foreclosures in the United States reached a record high in the second quarter of this year. According to data released by RealtyTrac, bank repossessions increased 38% in the second quarter from the same period last year for a record total of 269,952 foreclosures. Banks and lenders have been working overtime to foreclose on a growing number of borrowers who have fallen behind on payments. In the first nine months of this year, banks seized over 816,000 homes and were expected to reach about 1.2 million by the end of the year until concerns over forclosure documentation processes caused a slowing of foreclosures.

Many of the rushed foreclosures may be challenged in court, and even Congress has raised concerns over challenges to the validity of some foreclosures. Allegations that banks have rushed the documentation review process, essentially "rubber stamping" documents without reading them, have cast doubt on foreclosure practices slowing the pace a little. Even so, the RealtyTrac report estimates foreclosures in the U.S. could hit 1 million by the end of this year.

Despite the Obama administration's $75 billion effort to slow the flood of foreclosures, at least a third of 1.2 million homeowners who sought help from the government aid program have dropped out. Of U.S. states, Nevada has seen the greatest number of foreclosures, with 1 out of 17 homes facing foreclosure. The states hardest hit by foreclosures are Nevada, California, Florida, Utah and Arizona.

Are you at risk of losing your home to foreclosure?

If you are facing foreclosure, inform yourself and take action to save your investment and protect your equity. In many cases, foreclosure can be delayed or stopped. Contact a foreclosure lawyer today to learn more about your options. Do not delay— you may sacrifice your rights and lose options by missing important deadlines.