1 in 10 mortgages delinquent or in foreclosure

The pendulum swings both ways.

On Sun, 02 Nov 2008 03:46:45 -0800, the infamous Gunner Asch scrawled the following:

What the headline _doesn't_ say is that it's only a small departure from normal amounts of delinquencies and foreclosures, a number which has been rising for several decades. Granted, I wouldn't want to be part of that 10%...

These bailouts appear to be the screwups' way of getting us to pay for their lack of foresight and their gambling debts due to their HUYA ways of thinking. (HUYA = craniorectal inversion)

--snip-- Rate of Home Foreclosures Hits Record Published: September 7, 2007

WASHINGTON, Sept. 6 (Reuters) ? The rate of home loans in foreclosure rose to a record level in the second quarter of 2007 as more homeowners in California, Florida and other states could not refinance their adjustable-rate mortgages, a trade group said on Thursday.

--snip-- Foreclosures increased as the rate of delinquency on subprime loans, which are offered to borrowers with poor credit, rose to 14.82 percent in the second quarter, from 13.77 percent at the end of the first three months of 2007, and from 11.7 percent in the year-ago period.

--snip--

and from 2004:

--snip-- Blue Skies and Green Yards, All Lost to Red Ink By MICHAEL MOSS and ANDREW JACOBS

Published: April 11, 2004

But the national foreclosure rate has tripled over the last three decades. Experts say mortgage fraud is on the rise in the United States and is now evident in as much as 25 percent of the loans that falter. And what happened in the Poconos is a disturbing glimpse of how a worthy goal ? helping more middle-income Americans own their own homes ? can sometimes produce disastrous results.

--snip--

and

--snip-- Greenspan Shifts View on Deficits

Published: March 16, 2004

Mortgage foreclosure rates, personal bankruptcies and credit card delinquencies have been rising steadily and are at record levels. Most of that stress has taken place in lower-income families, which is why it has not made a big impact on aggregate data about national wealth.

--snip--

-- Everything I did in my life that was worthwhile I caught hell for. -- Earl Warren

Yes, that's exactly what it means, 90% are hunky dory and 10% are in default.