Comments on: Home Foreclosures Up 121 Percent

One In 171 U.S. Households Received At Least One Foreclosure Notice In The 2nd Quarter

[rudy654-2009]

This headline is about what results when RepubliCONs are in power. Decades of Economic American History repeats over and over again with these RepubliCON Greedy OLD Party (GOP)crooks...


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Posted by tryhonesty at 06:28 PM

It is what is behind all that "hands off" deregulation for sure. In other words, banks knew full well that they were going to make a fast buck off people who couldn''t possibly afford the adjustable interest rates. This present government didn''t care and wasn''t going to step in to do anything about it. Just like when Enron extorted money from millions of Californians.

[marshall_nee]

txdebb your exactly the type of story that we need to hear.

Posted by iphyt4u at 06:11 PM : Jul 25, 2008

Seconded.

[iphyt4u]

Wealthy republicans, stealing from the common working man. A disgrace to this Great Nation.

[tryhonesty]

Home Foreclosures Up 121 Percent...

This headline is about what results when RepubliCONs are in power. Decades of Economic American History repeats over and over again with these RepubliCON Greedy OLD Party (GOP)crooks...

[iphyt4u]

txdebb your exactly the type of story that we need to hear.

[iphyt4u]

The republicans are now posing themselves as mental patients. A perfect example of why things are going to change.

[txdebb]

Gee .. let me think. I''m a so-called lib with conservative moral values. I lost my job in February ... immediately started temp work ... and started new job in early June. I did NOT miss a single mortgage payment. I did, however, inquire that if my temp job stopped, would they allow me to tack a few months'' payments at the end of the loan since I had six years of stellar credit with them. Countrywide, however, said there was nothing they could do for me as long as I was "unemployed". Fortunate for me, I secured a small raise in the new job and am still on top for the moment. I exhausted most of my savings in the process, but I saved the house. So, my friends ... everyone is not alike and it''s tiring to hear you think they are. There are serious issues facing the USA today and rhetoric will solve nothing. I have a two year old granddaughter that I want to pass on a great solvent country to ... unfortunately unless we get very serious shortly, it will be an impossibility.

[iphyt4u]

dartngriss, were you hired to peddle jibberish by the republicans. You''ve got what it takes to be president.

[iphyt4u]

This winter, how far will your paycheck go, when you have to drive to work, and heat your house? Oh, I''m very sorry, they already took your house.

[iphyt4u]

I thought republicans stood for smaller government and less taxes. The fat, bloated, bureaucratic mess they''re leaving behind is incredible. I like the other post, where its mentioned that the republicans changed the bankruptcy laws, and then put the screws to a large segment of our society. It''s legitamate stealing, one of the worst chapters in the history of this Great Nation.

[ontheleft]

This is already the worst housing market since the Great Depression and it will keep getting worse. The recession has only just recently started affecting the labor market. We will be seeing many months of job losses which will only depress house prices further.

Things are going to get a lot worse before they get better. I don''t see house prices recovering for years. I sold my house last week and I have no plans to buy another until the market bottoms out.

[babooph]

Propagandists hide the start of the mess. 1st lobbyists bribed the politicos to stop the middle class from using bankruptsy.Next the cash in-super rip off loans,the crooks now knew would strap the suckers solid.Too bad the "Goose-golden egg thing" was forgotten!

[whitemale08]

While you so called Christian Republicans put your faith and trust in these prosperity and patriotism pastors, Hedge Funds like those managed by Mitt Romney and Chelsea Clinton could use your McMansion mortgage debt as collateral to buy out key industries and sell off their assets.

How do you like Wall Street now?

[payasyougo]

"The problem with people like you who believe in this Keynesian economic theory garbage is that you argue that you can count on human behaviour to do the right thing. It''''s not true that''''s why you need regulation."
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On the flip side, when that regulation eliminated people based on income in the late 90s, as it should have been, there were suddenly lots of analysis showing how certain segments of society were being discriminated against. It wasn''t discrimination based on race but there were several articles that interpreted the data that way. So the banks got tired of the accusations and relaxed the standards. And then everyone walked through that barn door. This was exasperated by ARMs, home equity loans and other products.

[dougmsbbs]

BOTH parties took part in setting this in motion. It goes back to affirmative action, trying to get lower income blacks into home ownership. They forced banks to write these loans, and what happened was not a surprise by anyone other than those who changed the rules. Of course, the banks came up with a way to pass the risk on to investors, and the death spiral has begun. Only in America can it be seen as okay to screw your life up and blame everyone else, and ask for a bailout. Libs, go to Europe where you''d fit in better. And STOP crying about it!

[smirk5]

I was laid off from a job about 7 years ago. The next day, I showed up to the unemployment office. The first guys in line to start the process for getting unemployment payments (socialized gov''t handout) were the Limbots I worked with.
There''s a town in Oregon named Vernonia. It''s a real red, Rush Limbaugh, George Bush loving town. But, when they got hit by a flood last fall, they were out en masse to get their gov''t help when it came. They didn''t just depend on their own bootstraps like they always talk about. They took handouts. Do Republicans ever walk the walk or do they become temporary Democrats whenever the going gets tough? There''s no doubt that plenty of Republicans have taken out stupid ARM loans. Are Cons here really trying to argue that the Republicans who did this won''t be taking the help that is offered to them? They''ll be the first in line.

[hungry1968]

Now you want me to pay to bail out your financial institution and your medical bills? How liberal of you?

Posted by maxify55 at 05:03 PM : Jul 25, 2008





It''s the neo cons and republicans proposing the bailouts, AFTER they killed legislation that would have prevented this from happening in the first place, and you''re blaming the liberals for it?

[dougmsbbs]

There were a lot of ways to headline this story. They chose the one that made it sound the worst. And lets not forget that these homes will not just be razed because someone got in over his head. They will be sold to someone else. The original buyer can go back to renting, where he should have stayed. This is NOT the disaster everyone is making it out to be.

[marshall_nee]

bigger write downs on the way off the back of this, how much longer can the banks hide their insolvency?

[xyno-2009]

The problem with people like you who believe in this Keynesian economic theory garbage is that you argue that you can count on human behaviour to do the right thing. It''''s not true that''''s why you need regulation.

Posted by whitemale08 at 04:49 PM : Jul 25, 2008

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ah yes, the "it''s not my fault, somebody screwed me!" argument. I don''t need everybody else to do the right thing because I''ll make sure that I DO.

I was offered an Option ARM loan, I just didn''t accept it. Personal responsibility.