Comments on: U.S. Home Foreclosures Soar In March

Resetting Of Adjustable Rate Loans Expected To Propel Foreclosure Numbers During The Year

[jumkey]

You REALLY need to go see someone about your problem. Try READING THE CONTRACT BEFORE SIGNING. Try ASKING YOURSELF, "Can I really afford $2400 a MONTH in mortgage payments". Try anything other than "Oh I''''ll figure it out later, just gimme that house!" The blatant disregard for rules and regulations that people did on BOTH SIDES

Posted by MyOpinion1

Nonsense. Even real estate attorneys don''t understand all of the language in mortgage agreements. Reading all of the fine print is an exercise in silliness.

That being said, the ARM''s and balloon payments should have been WELL understood before signing. If they WEREN''T then that needs to be addressed, not simply blaming the home buyer for being greedy or stupid as you apparently do.

Homeownership is endlessly lauded in our society as good and and virtuous, so to only blame homeowners who were eager to participate in the "American dream" is dishonest and misses the point.

The predatory lending practices of the mortgage industry are being conveniently swept under the rug while we use tax dollars to bail them out. This is a greater outrage than someone signing a mortgage agreement they don''t understand, and it''s telling that this escapes mention.

[forthepeopl1]

LISTEN IF THEY ( CONGRESS) WOULD DO THERE JOBS WE WOULDN''''''''''''''''''''''''''''''''T BE IN THIS MESS.

ANYONE THAT TOOK OUT LOANS FROM 2000 TO 2007
REGARDLESS OF WHAT THERE CREDIT LOOKS LIKE RIGHT NOW, BECAUSE OF THIS MESS MOST HAVE LOST THEIR GOOD RATING.


THEY NEED TO COME OUT AND TELL ALL MORTGAGE COMPANYS

TO RE-FI EVERYONE NOW. NO EXCEPTION IF THEY HAVE A
MORTGAGE THAN TAKE 60% OFF THE BALLANCE AND RE-FI THEM AT 1 PERCENT OVER PRIME AND STOP ALL THE BLEEDING FOR ONCE..THAT IS ALL THAT HAS TO BE DONE, SIMPLE,FAST,AND IT WOULD STOP ALL FORCLOSEINGS,BURNINGS OF HOMES,AND STOP 10''''''''''''''''''''''''''''''''S OF MILLIONS FROM BEING ON THE STREET..

THIS IS MORE INPORTANT, THAN THIS ***.

OR HOW ABOUT REPORTING THAT WE THE PEOPLE WANT TO KNOW THIS FROM CLINTON AND MCCAIN. WHAT DO YOU WANT TO SAY TO THE 374,298 AMERICANS DEAD,HURT,MAIMED IN THIS WAR YOU SUPPOTED FROM THE START..HOW ABOUT ASKING THEM THIS

[underdogus]

Or call 1-800-INEEDAHOME SE Hable Espanol....Posted by timdgrim . he,he..hey dont forget! the fans are 50% off at Home Depot se hable Espanol..

[middleman8]

When "carrying charges " term was replaced with " mortgage rates " and the term " cash and carry " was dropped, people don''t realize what they are getting into.

[joyous88]

the neo con republicon economy of reagan/bush/mccain

has sowed this diaster, just like the first republicon

depression of 1929,

the republicons gave all the money to themselves (the wealthy)

and there is none left for the rest of us

[bgwinnett]

It''''s starting?

Well, actually, the middle class of America has been A$$ raped for over two decades...

...thanks to "trickle down" economics.

What we are witnessing now, is the result of that.

Posted by NAUcoming4U at 12:06 PM : Apr 15, 2008

The one consolation is that Reagan''s legacy is going to be revised significantly downwards, on the realization that deficits DO!!! matter, tax receipts don''t go up when you cut them for the rich and that making your country in debt to the rest of the World when they used to owe you was a ******* up idea.

[mcvet]

They don''''t have to fill their own tanks. They keep on approving hefty raises for themselves while we all sink. Oh and I have a 5.5% fixed 30 year rate and would never be so DUMB to buy more house than I can afford. I am intelligent, so there is no danger of that happening. The people who bought mansions with 4% adjustable rates deserve what they get.


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Posted by MyOpinion1 at 10:17 AM : Apr 15, 2008
+ report abuse

You MISSED ONE major fact! Before Bush and the Fascist there were Regulations on Lenders. You know those pesky requirements that prevented them from deception in lending and the old bait and switch, which they used? The fascist took off all regulations and INCOURAGED this. If you doubt it check out HUD''s practices and procedures under the Little Nazi. Sieg Heil Bush

[timdgrim]

Foreclosure TENT sale at Sears...that would be the TENTS themselves....Buy one and get a FREE CANOPY!
We have two, three and for that family that just came in over the border..four rooms tents...Come in today!
Or call 1-800-INEEDAHOME SE Hable Espanol.....

[naucoming4u]

"It''s starting..."

Posted by lochlan at 11:06 AM : Apr 15, 2008
.............

It''s starting?

Well, actually, the middle class of America has been A$$ raped for over two decades...

...thanks to "trickle down" economics.

What we are witnessing now, is the result of that.

[lochlan-2009]

It''s starting. You hear the word "depression" being snuck in here and there in the main stream media now. They are just warming us up to what''s to come...

[missingamerica]

The people who bought mansions with 4% adjustable rates deserve what they get.

Posted by MyOpinion1 at 10:17 AM : Apr 15, 2008

Do they? Before Republicans, they used to call that "loan sharking".

"Don''t pay the vig, and we''ll break your legs!" was merely replaced with "Don''t pay the vig, and we''ll have you and your children sleeping in cardboard boxes!".

[watcher269-2009]

President Bush often argues that history will vindicate him. So he can''''t be pleased with an informal survey of 109 professional historians conducted by the History News Network. It found that 98 percent of them believe that Bush''''s presidency has been a failure, while only about 2 percent see it as a success. Not only that, more than 61 percent of the historians say the current presidency is the worst in American history. In 2004, only 11.6 percent of the historians rated Bush''''s presidency in last place. Among the reasons given for his low ratings: invading Iraq, "tax breaks for the rich," and alienating many nations around the world. Bush supporters counter that professional historians today tend to be liberal and that it''''s too early to assess how his policies will turn out - And future historians may be conservative - and that means they will try and re-write history - kindof like they are doing NOW!

[bgwinnett]

This is what happens when lenders and borrowers unite to form the "coalition of the deluded".

[mcvet]

Give me MORE "Trickle Down" and "Free Trade"!! Maybe in a couple of years we''ll qualify for Aid from China!!

[joyous88]

ov442

that is a ridiculous assumption, the oil companies will never retreat from record profits, the price of fuel may go down a nickle or two now and than , but you can look for to to go right back up sooner or later.

You want to solvetheseeconomic problems than you will have to go to the source.

the reagan/bush republicons with their foolish neo-con
vooDoo economic theories

the republiCons have ruined our economy and the american way of life with their

greed driven capitalism

[ov442]

Amazingly high numbers. Drop the Energy costs, and all will be well again. Because EVERYTHING will drop in price, and our cost of living will be back in the late 90s again, matching people''s stagnant incomes.