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To: LoneClone who wrote (4451)	5/27/2008 4:24:26 PM
From: calgarylady	Respond to of 23121

Thats what I thought until I heard someone quoting an article that there were still more to come. I just googled and this sounds like what they were quoting. They were also talking about the ones that can afford to renew but they are underwater so why bother. It seems the highest hit is military towns which are 4x higher.. now thats really sad. moneymorning.com "What we’re really looking at is ongoing fallout from people overextending themselves to buy homes they couldn’t afford and using highly toxic loan products to get into the houses in the first place," Rick Sharga, RealtyTrac’s vice president of marketing, told The Associated Press. "We’re going to see quite possibly a record amount of foreclosure activity in the third or fourth quarter," reflecting the spike in monthly payments because of the re-sets on adjustable-rate subprime mortgages that will take place in May and June.