Foreclosures hit ANOTHER record: More Americans Are Struggling to Pay Their Mortgages 6-5-08 article

Liberal_in_LA

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Thu Jun-05-08 09:39 AM
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Foreclosures hit ANOTHER record: More Americans Are Struggling to Pay Their Mortgages 6-5-08 article

http://abcnews.go.com/Business/Economy/wireStory?id=5004925

Home Foreclosures Set Record in First Quarter
More Americans Are Struggling to Pay Their Mortgages
By JEANNINE AVERSA
AP Economics Writer
WASHINGTON June 5, 2008 (AP) The Associated Press

Home foreclosures and late payments set records over the first three months of the year and are expected to keep rising, stark signs of the housing crisis' mounting damage to homeowners and the economy.

More PhotosThe latest snapshot of the mortgage market showed that the proportion of mortgages that fell into foreclosure soared to 0.99 percent in the January-through-March period. That surpassed the previous high of 0.83 percent over the last three months in 2007.

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