Foreclosures up 93% in some areas.

"While 43 states experienced year-over-year increases in foreclosure activity, just five states -- California, Florida, Michigan, Ohio and Georgia -- accounted for more than half of the nation's total foreclosure filings," RealtyTrac Chief Executive James J. Saccacio said.

Wow. I understand California and Florida easily enough but Georgia? This is the fall out of Adjustable Rate Mortgages. I would love to see the numbers of fixed vs ARM loans.

This is the cleaning out process that real estate must go through but it will be painful.