Some fascinating data from the WSJ:
Nearly 1.2 million foreclosure filings were reported last year, a 42% rise from 2005. That is a rate of one in every 92 U.S. households.
Colorado, Georgia and Nevada had the nation’s highest foreclosure rates last year, according to RealtyTrac. Among the top 100 metropolitan areas, Detroit, Atlanta and Indianapolis topped the list.
About 80% of subprime mortgages today are adjustable-rate mortgages, or ARMs, that have been nicknamed “exploding AR.... Read More...