Foreclosures more than quadrupled last year compared with 2006 in Dane County, according to data compiled by RealtyTrac, an online marketer of foreclosure properties.

The county had 1,169 foreclosure filings in 2007 — including default notices, auction sale notices and bank repossessions — up from 284 in 2006. Dane County had one foreclosure filing for every 173 households in 2007, up from one of every 732 households in 2006, according to the data.

In December, the county had 87 foreclosure filings, down from 231 in November but up from 36 in December 2006.

Wisconsin had 17,503 foreclosure filings last year, up 131 percent from the 7,572 filings in 2006.

Some of the state increase was due to increased data collection in Wisconsin, according to the RealtyTrac report. RealtyTrac began receiving data for several Wisconsin counties in mid-2006.

The state's foreclosure rate ranked 29th among the states.

The number of Wisconsin foreclosures may continue to rise this year.

"As the two- and three-year adjustable rate mortgages start to reset, forecasters anticipate a spike in foreclosures and delinquencies over the next 12 months," said Antonio Riley, executive director of the Wisconsin Housing and Economic Development Authority, who Tuesday announced an assistance program now available to Dane County homeowners facing foreclosure.

Coinciding with the higher level of foreclosures, some Wisconsin banks have reported higher loan losses over the past two quarters.

Foreclosures at traditional Wisconsin banks have been limited, however, because most weren't involved in the subprime mortgage market, said Kurt Bauer, president of the Wisconsin Bankers Association.

"We've seen an uptick (of foreclosures) in the banking industry, but not nearly the spike you're seeing in the mortgage broker world," he said. "We have a very conservative banking industry in Wisconsin. We're seeing the fruits of that right now."

Ron Steinhofer, president of the Wisconsin Mortgage Bankers Association, said many people with adjustable rate mortgages could be helped by the Federal Reserve Board's interest rate reductions because ARM mortgage rates often adjust according to the Fed rates.

"There are still going to be challenges," he said. "You're still going to have foreclosures because of divorce or health problems."

Nationally, December was the fifth straight month with more than 200,000 foreclosure filings. The 215,749 filings last month boosted the 2007 total to more than 2.2 million, up 75 percent from 2006.

WHEDA offers housing help

Help for homeowners facing foreclosure is available through a program organized by the Wisconsin Housing and Economic Development Authority.

The program features a national toll-free hot line, 888-995-4673, that offers 24-hour assistance from the Homeownership Preservation Foundation. Counselors can help homeowners work out a budget or contact their lender. WHEDA also has partnered with Common Wealth Development of Madison, a community development firm, to provide counseling for Dane County homeowners with more complex foreclosure problems.

A network of area lenders can offer safe refinancing products, said Kate Venne of WHEDA. The authority also plans to add real estate agents with experience in short sales to the assistance network. In a short sale, a homeowner sells a home at less than market value to get out from under a mortgage.

Venne said the hot line and counseling program also have been launched in Richland Center, Milwaukee, Green Bay and Wausau.

More information on help offered through the WHEDA program is available at WisconsinForeclosuReresource.com or wheda.com.