Mortgage woes push foreclosures to record


	Mortgage woes push foreclosures to record

pokkets

9-6-2007 10:23 AM

483 views

tags:

mortgage, loan, bank, money, forclosure, default, economy, business

1 Comment |

Add a Comment

9-6-2007 11:47 AM

cptenaud

We are in a death spiral. The Bush regime has done
a great job in destroying everything it touches. So
much for less Government in our lives.

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from September 6, 2007

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e86ef88a-493f-4dd3-854d-053d4e53d8f6/35829BE3-70ED-4738-8DDA-0389B2314179/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1" href="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1" style="font-size: 11px;">www.mail.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1"><DIV class="author">By MARTIN CRUTSINGER
</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1"><P>The number of homeowners receiving foreclosure notices hit a record high in the spring, driven by problems with subprime mortgages.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1"><P>The Mortgage Bankers Association reported Thursday that mortgage-holders starting the foreclosure process in the April-June quarter reached 0.65 percent, marking the third consecutive quarter that this figure has set an all-time high.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.mail.com/Article.aspx?articlepath=APNews\General%20Business\Late_Mortgages_20070906.xml&cat=money&subcat=business&pageid=1"><P>The delinquency rate, which tracks the number of people who are behind in their payments but have not yet entered the foreclosure process, was also up sharply during the spring, rising to 5.12 percent of all loans, up nearly three-fourths of a percentage point from th<SPAN id="morephoto">
<TABLE cellspacing="0" cellpadding="0" border="0"><TBODY><TR><TD width="176" align="left" class="apgTitle">Other Business Photos</TD></TR><TR><TD align="center"><DIV class="apgArrows"><A id="Article1_ArticlePhotoGallery1#leftButton" href="javascript:alert('This link contains javascript. Please visit the clip source to follow this link.');" target="_self" class="buttonleftend">
</A><A id="Article1_ArticlePhotoGallery1#rightButton" href="javascript:alert('This link contains javascript. Please visit the clip source to follow this link.');" target="_self" class="buttonright"></A></DIV>
</TD></TR><TR><TD class="thumbnailContainer"><DIV lang="~/xsl/ArticlePhotoGallery.xsl" id="Article1_ArticlePhotoGallery1_Ajaxxml1_div"><A href="http://www.mail.com/Article.aspx?articlepath=APNews\General Business\China_World_Economic_Forum_20070906.xml&cat=money&subcat=business&pageid=1"><IMG width="180" border="0" src="http://www.vimg.net/darwin/CMS/images/APNews/General Business/China World Economic Forum_20070906_XIN10109061143_180xH.jpg" class="thumbnail" /></A><DIV class="photosmalldescription">China Seeks More Foreign Research
</DIV></DIV>
<DIV id="Article1_ArticlePhotoGallery1#TotalImages">
56
</DIV>
<INPUT type="hidden" id="Article1_ArticlePhotoGallery1#currImage" value="1" />
</TD></TR></TBODY></TABLE></SPAN>
e same period a year ago.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/35829BE3-70ED-4738-8DDA-0389B2314179/blog/" title="blog or email this clip"><img src="http://content8.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>