Douglas Palmer, mayor of Trenton, N.J., and president of the U.S. Conference of Mayors holds a copy of 'The Mortgage Crisis: Economic and Fiscal Implications for Metro Areas,' during a news conference in Detroit, Tuesday, Nov. 27, 2007. Standing with Palmer are from left, Detroit mayor Kwame Kilpatrick, Louisville, Ky. mayor Jerry Abramson and Richard Kaplan, mayor of Lauderhill, Fla. Rising foreclosures will lead to billions of dollars in lost economic activity next year in the nation's major metropolitan areas, but homeowners and financial institutions have the ability to work together to contain the effects, according to the report.

Photo by Carlos Osorio, AP photo

Douglas Palmer, mayor of Trenton, N.J., and president of the U.S. Conference of Mayors holds a copy of "The Mortgage Crisis: Economic and Fiscal Implications for Metro Areas," during a news conference in Detroit, Tuesday, Nov. 27, 2007. Standing with Palmer are from left, Detroit mayor Kwame Kilpatrick, Louisville, Ky. mayor Jerry Abramson and Richard Kaplan, mayor of Lauderhill, Fla. Rising foreclosures will lead to billions of dollars in lost economic activity next year in the nation's major metropolitan areas, but homeowners and financial institutions have the ability to work together to contain the effects, according to the report.

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