How bad is this affecting everyone? I read that in California alone, Lenders have foreclosed on $100Billion worth of homes in the state over the past two years, and, they are now repossesing some 1,300 homes each business day....thats pretty alarming and one can deduce a lot of business owners are having sales affected by this as more consumers spend less and unemployment rates go up.

a lot of applicants with late mortgages and foreclosures have to be showing up to every MCA company....

Yep we've been seeing some late mortgages on credit reports - FL and NV are pretty bad too

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California & FL is probably the worst in our portfolio right now.

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Landlord defaults/Late payments far outweigh advances dying due to foreclosures. I find more and more each day that merchants you traditionally were able to keep up with their rent payments are falling anywhere from 3-5 months behind.

EJO- wondering if the housing crisis, which directly affects small businesses in those areas, are in late payments with landlord because sales drop? for example, in the Inland Empire in CA, there is a large surge of foreclosures, and, articles have reported that many small businesses who opened up in strip centers around new homes in that area, have had sales drop, and, thats hurt them- We have seen several merchants sales drop over the last 6 months of reviewing their statements. They had strong past months, but, a large downward swing in sales last month or two. They are not seasonal, so, something is causing slower sales- we are just trying to compile a lot of data points on the marketplace- landlscape business, appliance business, hvac companies, furniture stores, etc- these are all restricted businesses by many funders, and, a year or so ago, all these sics were being funded- def. a coorelation with housing mkt and underwriting changes-