[what's up]

I read that during the Depression, 50% of homes were in foreclosure. Don't know if this is true, but if it is, that's a far cry from 1 in 6 being only "under water".

(I think right now we have about 4% actually in foreclosure.)

[Freee-dame]

I read that during the Depression, 50% of homes were in foreclosure.

Back then, some mortgages were written so that missing one (or maybe a few, but I think it was only one) payment caused you to lose the house, with no repayment of the equity in it. Contracts like this are no longer legal.

This is how the sales of the Clinton's Whitewater real estate thing worked. HRC said that it gave an opportunity to buy a vacation property to those who might not otherwise have qualified. I thought that the media would expose this, but it was just another oh-well.

[VOA]

(I think right now we have about 4% actually in foreclosure.)

And though I can't remember the source...
I thought the notable figure is (somewhat suprisingly)...
four percent of subprimes are in foreclosure...
and four percent of the regular mortgages are in foreclosure.

(I still think surely the rate for sub-primes must be higher
the for standard mortgages)