Foreclosure rate rises to highest since 1979

Homes in foreclosure and homes entering the foreclosure process are up to levels not seen since 1979 reported the MBA today. For those that say we're coming to the bottom, I say either you're full of it or we're picking up speed for a nasty crash landing in to the bottom - either way it ain't go to be pretty. Oh, and the total percentage of mortgages in some form of delinquency (excluding foreclosure) is also at it's highest point since 1979 - so it doesn't look like making your mortgage payment has gotten any easier, no matter who you are. From Market Watch: he percentage of loans in the foreclosure process at the end of the first quarter rose to 2.47% of all mortgages outstanding on one- to four-unit properties, up from 2.04% in the fourth quarter, according to the Mortgage Bankers Ass