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I'm sorry that you are going through that. I think my area is facing the same thing. Everything was based on the principle that gas would stay cheap and home prices could only go up.
I watched the attached video(it's about 10 minutes long and very well done) and it's naming where I live "Foreclusure Alley". Watching the trash crews throw everything away was disheartening.
http://www.mortgagenewsdaily.com/10032008_Foreclosure_Alley.asp
I think cultural conservative Calvert may not be able to get as many voters to go along with the status quo as he thought.