"A growing number of American homeowners are falling into financial limbo: They're badly behind on payments, but their banks have not yet foreclosed. The backlog of seriously delinquent mortgages, which so far affects about 1 million borrowers, is a shadow over hopes for a rebound in the nation's housing markets. It masks the full extent of the foreclosure crisis and threatens to depress prices even further just as some parts of the country are hinting at recovery. For lenders, it could portend even more financial losses tied to the mortgage meltdown. "It just means foreclosure rates are going to keep rising," said Patrick Newport, an economist for IHS Global Insight." - Steven Perez from Bookmarklet

Yeah. :( I don't know when we'll be able to walk away from this house. We really would prefer not to, but we need about $600 more per month to be able to stay here. I've got an appt with my bankruptcy next week to discuss. The limbo part really sucks, though. - Ladyepiphanybug