In America September was the seventh-straight month in which more than 300,000 households receiving a foreclosure filing

SHOOT: But apparently we're on the road to recovery, and the Dow is over 10 000. Based on what significant shift in our fortunes? I predict an imminent correction of at least 10% to the Dow, and possibly as much as 30-40%. You can't fool fundamentals forever.

YAHOO: Some homeowners are in such a massive financial hole that it's hard to design a modification that will actually provide lower payments. And some have avoided paying their monthly bills for a long time.

clipped from news.yahoo.com WASHINGTON – The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost their jobs. The foreclosure crisis affected nearly 938,000 properties in the July-September quarter, compared with about 890,000 in the prior three months, according to a report released Thursday by RealtyTrac Inc. That puts foreclosure-related filings on a pace to hit about 3.5 million this year, up from more than 2.3 million last year. Unemployment is the main reason homeowners are falling into trouble. While the economy is likely out of recession, the unemployment rate — now at a 26-year high of 9.8 percent — isn't expected to peak until the middle of next year. Banks repossessed nearly 88,000 homes in September, up from about 76,000 a month earlier.