If the US is lucky this may be the peak of foreclosures due to the subprime mess, but it will be years before the fallout from it is over.

Excerpt:

Foreclosure filings across the U.S. nearly doubled last month compared with September 2006, as financially strapped homeowners already behind on mortgage payments defaulted on their loans or came closer to losing their homes to foreclosure, a real estate information company said Thursday. A total of 223,538 foreclosure filings were reported in September, up from 112,210 in the same month a year ago, according to Irvine-based RealtyTrac Inc.

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Tags: Credit Bubble, Subprime Mortgages, Home Foreclosures