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Morning Mortgage Meltdown: Foreclose Away!

Late payments and home foreclosure rates went through the roof during the past quarter; delinquency rates jumped to 6.35 percent. Highest record since 1979 here, folks. Those with craptastic credit and subprime A.R.M.'s were hit the hardest (obvs!)— sinking home prices are being blamed, as owners are having a much harder time bouncing back from financial hits such as, say, the loss of a job. And it's all expected to get worse. Great. [NYT]