A DEVASTATING REBUKE TO THE RIGHT...:

Mortgage Defaults, Delinquencies Rise (JAMES R. HAGERTY, 3/30/09, WSJ)

Defaults on home mortgages insured by the Federal Housing Administration in February increased from a year earlier.

A spokesman for the FHA said 7.5% of FHA loans were "seriously delinquent" at the end of February, up from 6.2% a year earlier. Seriously delinquent includes loans that are 90 days or more overdue, in the foreclosure process or in bankruptcy.

...and its hysteria about the undeserving poor.

Posted by Orrin Judd at March 30, 2009 6:58 AM