The wires are reporting that the White House is working on a plan that would freeze rates on adjustable rate mortgages for certain borrowers, in an attempt to help curb the rapid increase in home foreclosures expected in coming months. While it certainly will help the situation, consider a slide from Countrywide's Keynote Presentation at the 37th Annual Bank of America Investment Conference in September which showed the following:

Causes of Foreclosure (July 2007)

58.3% Curtailment of income

13.2% Illness/Medical

8.4% Divorce

6.1% Investment property/Unable to sell

5.5% Low regard for property ownership

3.6% Death

1.4% Payment adjustment

3.5% Other

Very interesting...