sci.energy.hydrogen

On Tue, 21 Aug 2007 09:13:46 -0700, knews4u2chew@ wrote:

>http://biz. /ap/070821/ ?.v=5
>
>"While 43 states experienced year-over-year increases in foreclosure
>activity, just five states -- California, Florida, Michigan, Ohio and
>Georgia -- accounted for more than half of the nation's total
>foreclosure filings," said RealtyTrac Chief Executive James J.
>Saccacio.
>
>Nevada posted the highest foreclosure rate: one filing for every 199
>households, or more than three times the national average. It reported
>5,116 filings during the month, an increase of 8 percent from June.


Of course they are experiencing massive forclosures. All those
variable rate mortages and subprime mortgages arte now coming to term.

Its hardly expected when somone buys a house for a temporary intest
rate that they can afford, but when the variable rate comes to term
and tripples...the marginal folks wind up way the fuck upside down
and wind up losing the house.

Bush talked all those morons into speculating ona house that then
cannot aford the payments?

Gunner