Sobering Stats Reflect The Magnitude Of Our Economic Malaise...

$23 billion of adjustable rate mortgages (ARMs) are expected to be reset from their initial interest rate in January 2011, the smallest monthly total that will be reset nationwide in 2011. The peak amount of resets this year will occur in August 2011 when $40 billion of ARMs will end their initial rate period, i.e., the length of time that the original ARM interest rate remains unchanged (source: Credit Suisse).


47 million Americans out of our population of 312 million (15%) are on Medicare today. An estimated 2.8 million additional Americans will turn age 65 during the 2011 calendar year and qualify for Medicare enrollment (source: Centers for Medicare and Medicaid Services).     


1.53 million Americans filed for personal bankruptcy (either Chapter 7, 11 or 13) in calendar year 2010, the 4th consecutive year of an increasing national total (source: American Bankruptcy Institute).


1,046,762 homes were seized by lenders in calendar year 2010 as a result of foreclosure, an average of 2,868 per day. There are 75 million homeowners in the USA, 24 million of which do not have any mortgage debt on their homes (source: RealtyTrac, Census Bureau).


50% of the 75 million homeowners in the USA have an outstanding mortgage balance on their primary residence that is more than 50% of their home's current fair market value (e.g., mortgage debt of more than $100,000 on a $200,000 home). (source: Census Bureau).


More than half of retirees surveyed (56%) were not debt-free when they retired (source: CESI Debt Solutions).