There's a new one out every week, it seems: a report showing an alarming increase in foreclosures in a city or region particularly hard hit by the slowdown in the housing market. Such reports are watched closely not only by bargain hunters, but by lenders who are concerned about the ripple effect foreclosures may have on the value of properties they've loaned money against or are considering underwriting. For mortgage lenders, investors and insurers, a foreclosure report is like a canary in a coal mine. By the time the bird drops dead, they may already be exposed to considerable risk. What lenders -- and prospective home buyers -- would really like to know is where problems are likely to crop up in the future. Using data extracted from millions of loan transactions, Sacramento, Calif.-b...
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