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American Dream Sours as Housing Market Collapses DENVER, Colo. - For Cathy Busby, May 1 marked a personal "Mayday!" as she was sucked into the housing crisis sweeping the United States. On Tuesday, she went into arrears on her mortgage after her monthly repayments soared by 40 per cent. The 47-year-old hospital administrator will lose the three-bedroom home in the Denver suburb of Montebello that she bought 11 years ago, unless she can reach a deal with her lender.

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American Dream Sours as Housing Market Collapses

DENVER, Colo. - For Cathy Busby, May 1 marked a personal "Mayday!" as she was sucked into the housing crisis sweeping the United States.

On Tuesday, she went into arrears on her mortgage after her monthly repayments soared by 40 per cent. The 47-year-old hospital administrator will lose the three-bedroom home in the Denver suburb of Montebello that she bought 11 years ago, unless she can reach a deal with her lender.