The national chatter over the flailing home lending industry and its effect on the U.S. economy became more heated this week than an Anna Nicole Smith memorial service.

[Nice lede! Who is this guy Chad Graham? Is he new reporter at the Republic?]

That state [Michigan] recently joined Mississippi and Louisiana as places that led the nation in late mortgage payments. Arizona ranked 40th in that measure…

Nevertheless, I do want to remind you the foreclosures will likely skyrocket the second half of 2007.