By April, 2009, hundreds of thousands of option ARM mortgages will
begin resetting, bringing on a fresh wave of foreclosures.

Stay tuned.

On Jun 10, 3:35 pm, visualseep...@yahoo.com wrote:

I am not surprised.

I trust in the law of conservation.

On Jun 9, 11:35 pm, visualseep...@yahoo.com wrote:

http://afp.google.com/article/ALeqM5iYRid5mQRrheS9mCZy6UA076gBMA

US home foreclosures hit fresh high in April: survey

WASHINGTON (AFP) — In a further sign of the still-troubled US housing
market, a survey Wednesday showed home foreclosure actions hit a fresh
all-time high in April of 243,353.

The survey by the research firm RealtyTrac said the percentage of
foreclosure actions -- including default, auction sale notices and
bank repossessions -- rose four percent from the prior month and 65
percent year-over-year.

"The total number of US properties with foreclosure activity in April
was the highest monthly total we've seen since we began issuing the
report in January 2005," said James Saccacio, chief executive of
RealtyTrac.

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