The subprime crisis is causing a recession soon and will be seen as one of the worst financial debacle to hit the sector since the savings & loan catastrophe of the 1980s. Last year foreclosure filings surged 75% to 2.2million with cities like Las Vegas to top the three spots in a metro foreclosure list. Considerations by the govt. to rescue the 8.8million homeowners defaulters in which Cleveland, Akron, Dayton and Toledo among the 20 areas ranked with the highest foreclosure rates in the US last year. Recent events has seen Connecticut foreclosures experiencing a sharp increase especially in the areas of  New Haven, West Haven, Meriden and Waterbury.