Free Republic

• Q2 jumps by 67 percent year over year • Buyers done in by ‘creative mortgages’ according to figures released Monday by Foreclosures.com, a Central Valley-based real estate investment advisory firm and publisher of foreclosure property information. "Year over year at the end of the second quarter of 2006, foreclosure activity in California has increased more than 67 percent," says Alexis McGee, president of Fair Oaks-based ForeclosureS.com. The once hot housing markets in Las Vegas and Phoenix are cooling off rapidly and defaults there are on the rise as well, she says. "Both Las Vegas and Phoenix were impacted by...

Rep. Patrick Kennedy (news, bio, voting record) crashed his car near the Capitol early Thursday, and a police official said he appeared intoxicated. Kennedy said he had taken sleep medication and a prescription anti-nausea drug that can cause drowsiness. Kennedy, D-R.I., addressed the issue after a spate of news reports. His initial statement said: "I consumed no alcohol prior to the incident."'Later, however, he issued a longer statement saying the attending physician for Congress had prescribed Phenergan on Tuesday to treat Kennedy's gastroenteritis.Kennedy said he returned to his Capitol Hill home on Wednesday evening after a final series of votes...