Record Foreclosure Rate

This is where a harsh reality of the recession job losses is taking another toll, foreclosures are increasing, not decreasing.

Take a look at the type of mortgage that is now going into default, its a fixed mortgage, not a variable rate mortgage which was at the center of the recession's cause at the start. So what does that tell you.

Its a simple formula, no job -> no money -> no mortgage payment -> foreclosure.

They are still talking about California and Nevada. We know that Vegas is in deep trouble.

McClatchy: Foreclosures, mortgage delinquencies climb at record rate

...the largest percentage of new foreclosures in January, February and March were on prime fixed-rate loans.

...California, Florida, Arizona and Nevada — also account for more than half the increase in new foreclosures on prime mortgages

"...delinquencies are very much tied to employment..."