We are definitely seeing this trend in our market.
Source : http://www.washingtonpost.com/wp-dyn/content/article/2007/04/16/AR2007041601636.html
Home Foreclosures Double
The number of U.S. homes entering foreclosure doubled in the first quarter from a year earlier as property prices stagnated and owners struggled to refinance mortgages. Owners of 168,829 homes in 2007’s first three months were notified that lenders had filed for foreclosure […]