This has not been much of an issue for 10 years because of low interest
rates and high sales prices for homes. But the picture has changed.
Nationally,
foreclosures were up 72 percent in the first quarter of this year
compared with the same period last year, according to
RealtyTrac, a California firm that monitors the market.
The South Florida Sun-Sentinel reports:
The
number of foreclosures is ballooning as strapped homeowners can no
longer make their mortgage payments or quickly unload properties in a
cooling housing market.
Among those most at risk: owners who
used creative financing to stretch their budgets in the 2000-2005
housing boom. Buyers who took out a five-year adjustable-rate mortgage
in 2000 are seeing their house payments rise for the first time.
The
new payments usually are much higher, and homeowners looking for a way
out typically can no longer sell in a few days or weeks, as they could
during the height of the market. Today, a large inventory, high prices
and rising interest and insurance rates make selling difficult. Those
who can't hang on often have their homes taken over by their lender.
"I'm
seeing foreclosures in many areas where they just weren't prevalent
before,'' said Rhonda Light, who operates Foreclosure Reporting
Service, a Hollywood firm that annually tracks thousands of
foreclosures in Broward and Palm Beach counties. "The foreclosures
we're seeing now are all over the board and in all different price
ranges.''
Click here to search, state
by state, more than a half-million foreclosed properties. (Just click
on a state and enter the ZIP code for the area you'd like to search.)
The RealtyTrac site has a free trial for you to test-drive. Click here for state-by-state foreclosure laws.
Here's some advice on how to prevent foreclosure (besides paying your bills) from the Department of Housing and Urban Development.
The Orange County Register points out another wrinkle in the foreclosure story:
Homeowners behind in their
mortgage payments after hocking the house to pay for a major remodel or
a new boat or car may be in for a rude awakening.
If they previously refinanced
and their lender decides to foreclose, they may not only lose their
house, but the bank also may be able to go after their other financial assets including stocks, savings and their paycheck.
And even if the bank doesn't
go after their other assets, a foreclosure may mean a big tax bill from
the IRS and state Franchise Tax Board for any shortfall between what
the bank gets for the sale of the owner's home and the value of the
loan.
"This is going to become a hot topic," predicts Bradford L. Hall, managing director of Hall & Co., CPAs in Irvine,
who remembers the pain of foreclosures during the 1990s. "There's very
little awareness of what can happen when you can't make your payments
and are forced to sell your home for less than the mortgage balance or
lose your home through foreclosure."
911-Operator Burnout
Officer.com,
a Web site for police officers, ran an interesting story on 911-operator
burnout.
How much turnover does your city's emergency call center have?
What sort of counseling do operators have access to? Can you imagine the
things these emergency operators hear on a daily basis?
Click on these links for information from the Law Enforcement Wellness Association, the Peer Support Training Institute and the Central Florida Police Stress Unit Inc.
The Buzz on Bites
I now know two people who have/are suffering the effects of lyme disease and one who just recovered from Rocky Mountain spotted fever. This is high season for insect bites. While there is usually no need for panic, HealthDay News offers some background:
For most people, a bug bite or sting is just an inconvenience, but as Dr. Margie Andreae warns, certain insect encounters should not be overlooked.
"The vast majority of
people will only have a localized reaction to a bug bite or sting.
However, about 3 percent of the population may develop an allergic
reaction, including symptoms of a rash and hives that are distant to
the bite or sting that will require medical attention," Andreae said in
a prepared statement.
Andreae also warned of potentially threatening mosquito and tick
bites. According to [the University of Michigan Health System], mosquitoes
are the most common insect to send kids to a physician. West Nile virus
is carried by mosquitoes, and "approximately one out of 150 people
bitten by an infected mosquito will develop a serious illness," the
expert said.
People who spend a great deal of time outdoors, particularly in
wooded areas of the Northeast and Midwest, should also be on the
lookout for ticks this summer.
Lyme disease is
carried by ticks and, according to research, about 80 percent of people
with Lyme disease will develop a rash similar to a bull's-eye near the
bite. Often, it is accompanied by flu-like symptoms such as nausea,
headaches and vomiting.
In order to steer
clear of such cases, the UMHS has provided tips on how to treat and
prevent insect bites and stings. Five tips they offer for treating a
sting are:
- Remove the stinger.
The first thing to do when stung by either a bee or a wasp is to look
for any remaining stinger. If so, Andreae recommends using a firm
object like a credit card to sweep across the site and pull out the
stinger. Do not squeeze or pinch the skin to remove the bug and/or stinger, as this will only cause more venom to be released.
- Clean the area. Use water and soap to completely cleanse the site of the sting.
- Apply ice, since it calms the swelling and reduces redness.
- Add hydrocortisone cream, which helps to relieve pain and redness.
- Take a pain reliever and an antihistamine such as Benadryl or Tylenol.
Nearly One-Quarter of High Schoolers Smoke
Research from the Centers for Disease Control & Prevention indicates the figure has not changed much in recent years. The CDC saysone
reason may be the increase in movie stars who are smoking onscreen.
Girls and boys smoke at about the same rate, but white kids
smoke more than non-whites. (See details.) Hispanic males smoke at a rate nearly as high as whites.
We are always looking for your great ideas. Send Al a few sentences and hot links.
Editor's Note: Al's Morning Meeting is a compendium of ideas, edited
story excerpts and other materials from a variety of Web sites, as well
as original concepts and analysis. When the information comes directly
from another source, it will be attributed and a link will be provided
whenever possible. The column is fact-checked, but depends upon the
accuracy and integrity of the original sources cited. Errors and
inaccuracies found will be corrected.
I know, I know, everyone and their brother is predicting...
