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Tweet A record high number of homeowners faced a serious threat of foreclosure during the fourth quarter of 2006, according to a survey released Tuesday by the Mortgage Bankers Association. The percentage of all outstanding loans that entered the foreclosure process was 0.54, 0.08 percentage points higher than the third quarter and the highest ever [...]



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Tweet The spike in foreclosures is delivering substantial losses to some home mortgage lenders, shaking investor confidence in the subprime loan market and possibly even prime home loan industry. A slumping housing market and the threat of higher mortgage payments are also raising fears that more homeowners will find themselves unable to service their mortgages [...]



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