Monday, July 2, 2007

Bear Stearns Meets Possums in Georgia as Foreclosures Rise on Housing Bust

(Bloomberg) -- Only the possums are enjoying the
backyard of 2035 Lilac Lane in Decatur, Georgia, where Wall
Street titan Bear Stearns Cos. is just another homeowner by
default.

``It's a mess,'' said Kiwanna Ford, 31, who grew up next
door to the vacant brick ranch-style house four miles south of
the DeKalb County Courthouse. Bear Stearns seized the property
three months ago after Ford's neighbor stopped making payments on
his mortgage. ``If we wanted to sell our house right now with
that next door, it would hurt,'' she said.


Read more at Bloomberg Bonds News

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