Thursday, October 19, 2006

The San Andreas Default Just in time for the election: More Homeowners Going Into Default The number of Californians who are significantly behind on their mortgage payments and at risk of losing their homes to foreclosure more than doubled in the three months ended Sept. 30, providing the latest evidence of trouble in the housing market, figures released Wednesday show. Lenders sent out 26,705 default notices — the first step toward a foreclosure — during the July-to-September period, up from 12,606 during the same quarter in 2005, according to DataQuick Information Systems. It's the flip side of Bush's Ownership Society -- the Foreclosure Society. 10:42:30 AM    comment []