Seattle Times - Meanwhile, the mortgage problems in Florida and California were caused by a speculative bubble built on excess supply, he said. "It's a different story." Home foreclosures reached an all- high nationwide in the third quarter, with Ohio the top ... Borrowers can stay involved with their mortgage dealings by applying for a mortgage online. With traditional mortgages, lenders may not give out enough information, leaving the borrower practically in the dark throughout the whole process.