Gateway Financial Inc

FORECLOSURES ARE AT A THIRTY YEAR HIGH....

Foreclosures numbers are breaking records all over the nation. Too many borrowers that stretched out their financial abilities when they took their loans, now having major troubles making their payment on time, or at all. They may have difficulties because of other reasons, as sudden unemployment, sickness, etc.

Few examples relating to foreclosure numbers of the 3rd quarter of 2006 :

Arizona: 5348 - up from 4512 in the 2nd quarter. (3231 of those were in Maricopa County, includes Phoenix).