"The initial surge in foreclosures in 2007 and 2008 was tied to subprime mortgages issued during the housing boom to people with shaky credit. That crisis has ebbed, but it has been replaced by more traditional foreclosures tied to the recession. . . . Almost 4 percent of homeowners with a mortgage are in foreclosure, and 8 percent on top of that are at least a month behind on payments — the highest levels since the Great Depression." The Associated Press, July 16, 2009
"Locally, foreclosure filings were up 52 percent from May to June in the three-county Madison metropolitan area of Dane, Columbia and Iowa Counties, with 338 filings in June compared to 222 in May. The June total is 91 percent higher than the 177 foreclosure filings here in June 2008." The Capital Times, July 16, 2009