Home foreclosures are expected to hit an all-time record this year as unemployment and depressed home values continue to take their toll on Americans hard-hit by the weak economy.

Last year there were 2.82 million foreclosures, the most since RealtyTrac began compiling data in 2005. More than 4.5 million filings are expected this year, including default or auction notices and bank seizures, said Rick Sharga, senior vice president for the Irvine, California-based seller of default data and forecasts. There were 3.96 million filings in 2009. …

U.S. lenders permanently modified 31,382 mortgages, or 1 percent, of the 4 million loans targeted under the Obama administration’s foreclosure prevention plan through November, the U.S. Treasury Department said last month. Fewer than half of the 3.2 million homeowners estimated as eligible for mortgage relief by the Treasury actually qualify, according to Herb Allison, assistant secretary for financial stability.

In the meantime, the Obama Administration is looking to impose massive new taxes on banks based on degree of risk. The tax will target “about 50 banks, insurance companies and large broker-dealers” and is expected to collect $90 billion over 10 years.  The administration sees this as a mechanism to recover TARP funds – including the bailout of the automotive industry, though car makers are exempt – and indicates the tax will be collected until all the TARP funds are recovered.

As more tax revenue is contemplated, the Politico reports that the December budget deficit hit a record high of nearly $92 billion on the way to a $1.42 trillion deficit for the year.  Projections for this year are even worse with the deficit expected to top $1.5 trillion.  The December number marked the 15th straight month of deficit spending.

Finally, all eyes continue to be on Haiti, where search and rescue workers are working hard to help survivors and to locate the missing.  If you can help, here is a list of charities that are involved.