Santa Cruz Sentinel - "Wave of foreclosures hits county" (12-30-07)

"More than 240 homeowners in Santa Cruz County have lost their homes this year -- five times as many as in 2006 -- and hundreds more are in danger of losing homes, all because they can't afford their mortgages."

Orlando Sentinel - "Mortgage bailout plan might not help many borrowers" (12-30-07)

"U.S. Treasury Secretary Henry Paulson Jr., in his statement to the press, said that up to 1.2 million of the 1.8 million homeowners whose subprime ARMs are due to reset in 2008 and 2009 would be 'eligible for fast-tracking into consideration for affordable refinanced or modified mortgages.'"

Orange County Register - "How subprime lending all started in O.C." (12-30-07)

"A clear plastic plaque on William Komperda's desk memorializes a 1990 deal that helped launch the made-in-Orange County subprime lending bonanza. Komperda, a former investment banker now living in Connecticut, calls the plaque a 'tombstone,' financial speak for a securities offering notice. But the 'tombstone' symbolizes an industry that rocked financial markets around the world in 2007."

Orange County Register - "Empty O.C. office space eyed as growing problem" (12-30-07)

"The O.C. office market for 2008 basically should look like this: All office types will see vacancy go up. It is already felt with business confidence lowering and large companies scaling back. Mortgage and other companies that depended on the housing cycle are on the downward slope and have moved out or scaled back leaving more empty office space. Rates should slip 10% to 20%. Low-rise office properties may hold up by the fact they can offer lower rates; and Class 'A' will always attract the image-conscious tenants. Don’t panic: third quarter of ‘08 will be the real time to gauge the market. The move will be down on rates for 2008."