I watched 60 minutes last night - usually I dont - but I was waiting for the Survivor finale. I was horrified to see a story about a new mortgage crisis that should start affecting the economy in 2010. It was a very scary story and is the headline on CBSnews. com if you want to check it out. It all stems from "Alt-A" and "option ARM" loans that were taken out in the last few years. They are another aspect of the sub prime lending debacle, which most news stories I have seen show to be on the downswing now. The person interviewed stated that some of these loans have already defaulted and the reset date has not even arrived. They stated the reset dates of these loans would begin in 2010 and with the track record for defaults they already have on them - once the payment grows at reset - about 50% to 70% of people with these loans will default. So we have not seen the end of the mortgage mess. It really worries me as these mortgage industry gurus forcast the economy to get even worse in 2010 due to this. Not just the huge amount of defaults/foreclosures, but the influx of property for sale will cause the property values to severely decline. I am not the most financially savy person, but I feel worried about this. Did anyone else see this last night? How do you feel about it. I know I can only watch out for me and my family, but just another thing to worry about.