The recent news of dramatic foreclosure increases was bad news...but this article from CNNMoney.com seems to put things into perspective.  When you look at the way the MBA presents it, it almost doesn't look that bad:  "The Mortgage Bankers Association said that the rate of loans entering the foreclosure process was 0.58 percent in the first three months of the year on a seasonally adjusted basis. That's up from 0.41 percent in the year-earlier period.  Meanwhile the percentage of loans in the foreclosure process was 1.28 percent of all loans outstanding at the end of the first quarter, an increase from 0.98 percent a year earlier."

The article suggests that the areas of particular concern are Ohio, Michigan Indiana, California, Florida, Nevada and Arizona.

Here's the full article: http://money.cnn.com/2007/06/14/news/economy/mortgage_foreclosures_deliquencies/?postversion=2007061410

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