The San Diego Union Tribune - "Foreclosure agents bask in bad times" (8-5-07)

"San Diego County's highflying housing boom is over, but real estate agents specializing in foreclosure sales say business hasn't been this good since the deep recession of the mid-1990s. As thousands of mortgage-default properties hit the market, prospective home buyers and investors are looking to cash in on other people's misfortunes."

Market Watch - "Western states went exotic with mortgages" (8-5-07)

"These states surpassed the national average last year for payment-option adjustable rate mortgages, the type of home loans that allow the borrower to minimize their monthly payments so they don't even cover the interest on the loan, a review of mortgage data show. California led the nation in originations of payment-option ARMs, with about 24% of all its refinanced and first mortgages falling into this category last year, according to data firm First American LoanPerformance."

The Washington Post - "No Money Down Disappearing as Mortgage Option" (8-5-07)

"Lenders faced with growing piles of bad loans, even to borrowers once considered good credit risks, have clamped down on the no-money-down mortgage. The abrupt shift threatens to dash the hopes of millions of potential buyers, especially those shopping for their first homes. Four out of 10 first-time buyers used no-down-payment mortgages in 2005 and 2006, according to surveys by the National Association of Realtors. But some lenders are now scrapping such loans completely. Others are pickier about who gets them. All figure that the more cash borrowers put down, the less likely they are to default."