Losing a home to foreclosure is just the start of a lengthy and costly process.

Though homeowners are not responsible for monthly payments following a foreclosure, costs mount in different forms.

First, there's moving expenses, and then rent in many cases. That foreclosure problem can lead to higher rents, according to Cameron Pannabecker of Cal-Pro Mortgage. "The new landlord will charge a premium, or deposit, or extra month rent, because they're a bad credit risk", said Pannabecker.

A bad credit rating is certain to follow foreclosure victims, for a long time, making other purchases more difficult. "All their credit will cost them more -- credit cards, loans. It moves credit into an area where they pay top dollar for any transaction," according to Pannabecker.

Good credit can take several years to restore. Buying another home will also take time because it's not easy to build back the funds needed for a down payment.

Pannabecker expects 2008 to produce even more foreclosures than 2007 in San Joaquin County, when the number was just over the 4 thousand mark.

Click here or on the link above for some help avoiding foreclosure from the U.S. Department of Housing and Urban Development.