Repossessions of cars is up 15% this year, as downsized, out-of-work, struggling Americans find it harder and harder to holkd on to their cars. Our car payments are usually the expensive next to our mortgages.
>"As the subprime-mortgage collapse, "recovery service agents" have been cleaning up the wreckage of another subprime-lending mess: that of the auto industry, which in its own competitive bid for buyers has been extending longer, costlier loans to people unable to keep up with their payments.
>"Repossession agents in areas hit by foreclosures say they've been picking up vehicles both from people struggling to keep their homes and from those now left without work: construction workers, pavers, landscapers and real-estate agents."
Article <here.>
Repo Men getting busy
