People who know me hassle me about watching the "Housewives of the Orange County" (Yeah, I know it is cheesy.) The show profiles the lives of wealthy women in one of the most expensive zip codes in the country. However, the O.C. has gotten a different reputation lately. Apparently, it has one of the largest foreclosure rates in the country. The reason is because The O.C. is home to lots of subprime borrowing companies, like New Century Financial and Ameriquest. These companies have went out of business and fired O.C. residents, which is causing record foreclosures. Going back to the "Housewives of the Orange County", one of the men who dated two of the housewives, Slade Smiley, is now is having his home foreclosed. If you want to buy his former O.C. property, prepared to pay $1.7 million.
If even reality tv stars can't escape foreclosure, what hope does the Average Joe have?
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