The San Diego Union Tribune - "Q&A: How could things go so bad and so quickly?" (2-16-08)

"Just three years ago, the housing boom seemed like such a good thing. Property values were skyrocketing. Home equity loans were helping homeowners live in luxury. Mortgage rates were low enough to attract low-income buyers who never thought they'd be able to afford a home."

The San Diego Union Tribune - "Home loans failing at record rates; foreclosures up 257% over Jan. '07" (2-16-08)

"Home loan failures in San Diego County continued their steady climb in January, setting records for both foreclosures and the notices of default that are the first step in reclaiming mortgaged properties. The number of foreclosures in the county was 1,305, up 32 percent from December and up nearly 257 percent from January 2007. Notices of default totaled 3,109, up 21 percent from December and up 145 percent from the previous year."

The San Diego Union Tribune - "Splitting of bond insurers studied" (2-16-08)

"Regulators and bankers racing to bolster troubled bond insurance companies are considering splitting the firms into two parts – one for safe municipal debt and the other for riskier mortgage-related securities."

The San Diego Union Tribune - "Governor to sign $1 billion in cuts" (2-16-08)

"The Legislature sent Gov. Arnold Schwarzenegger a $1 billion package of midyear budget cuts yesterday – in addition to a 10 percent cut for Medi-Cal providers for next fiscal year that some said will be devastating."

Los Angeles Times - "Confessions of a mortgage salesman" (2-16-08)

"Top 10 Mistakes Mortgage Borrowers Make"