Mortgage Foreclosures Set a Record

With a warning that the worst is yet to come, the Mortgage Bankers Association said last week that lenders began foreclosure proceedings on a record number of homes this spring.
The turmoil in the mortgage market poses multiple threats, the MBA says. Foreclosures are likely to rise for at least another year. A bigger supply of homes in foreclosure would weaken prices in many areas. And people behind on loans will find it