Originally Posted by davestlouis

I do debt collection work and was on the phone with a credit union today. The collector's comment was that she has never seen so many people go from A-Credit to foreclosure/bankruptcy in 90 days as she has in the past 12 months. It's like these people just dry up and blow away. I have seen it myself: I go to the delinquent debtor's home and knock on the door, to try to get them to talk. 10 years ago, I spent a lot of time in the city, in low income areas. Now I rarely even venture into the city, I spend a lot of time in upscale subdivisions. I work for multiple lenders, and there are times that I knock on a guy's door, about his mortgage and his car, and maybe even his piano loan.

Scary stuff. All I can offer is my personal experience, but what I see in STL points to a not-so-pretty trend.