Foreclosures might rise

The State | 02/09/2006 | Foreclosures might rise: "Fewer Columbia-area residents lost their homes to foreclosure in 2005, but rising interest rates and higher living costs might increase pressure on homeowners this year, some industry watchers say.Thousands of homeowners with adjustable-rate mortgages could see their monthly payments increase because short-term interest rates have risen 3.5 percent over the past 18 months.Add higher energy costs, including a 22 percent jump in gasoline prices among other reasons for the pressure, and homeowners with tight budgets start to sweat. That's a perfect storm scenario for a homeowner about to be in trouble, said Rick Sharga, vice president of marketing for RealtyTrac, a national foreclosure database."
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