A Startling Figure
Filed under: PolitikU.S. foreclosure filings were up a whopping 81% in 2008.
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Posted: January 15, 2009 at 11:44 am
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24 comments to “A Startling Figure” |
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OLD NEWS
ah, to buy big when you can only afford small………
Sad….
Yawns.
Boring.
Where's the gossip?
I STILL HAVE MY HOUSE PRAISE THE LORD!
People need to stop getting loans they know they can't AFFORD!
I don't blame the people, I blame the gatekeepers that crunch the numbers and knew these people couldn't afford the loans but gave it to them anyway putting the rest of us in harms way. First time homeowners ( majority) were suckered esp. if you don't understand that you'll be jacked when an arm expires etc. Some people truely did NOT understand what they were getting into and some were told a bold face lie that their mortgage would be the equivalent of their former rent "forever" hence the term "predatory lending". These lenders were after the bonanza of interest once an arm xpires.
Re: _Alice_ – AND BANKS HAVE TO STOP ISSUING THEM AS WELL.
Re: _Alice_ –
I want to find a monkee to fuck and I'm thinking Harry or BBD. Want to join me. I'm not that big of a ho ho ho. I like jumping up and down on monkees.
Just keep swimming!
Re: _Alice_ – AMEN SISTER
When you make $2,000 a month you can't pay $3,000 a month on a mortgage what is so complicated about that? People who think you can are
1. Idiot High School Drop Outs, 2. Illegals who think they are owed everything FREE in America 3. The we needs HEP crowd?
I'll bet you money Perez knows how to figure what he can and can't afford and lives accodingly?
Re: LizardKinG – true, but in the end you are responsible for yourself and your finances.
honestly, how many out there REALLY think they can afford a 400K house making 50K a year?
if it's too good to be true, then IT IS!
xoxo
last night a court official came to my house like at 11 with a foreclosure/lawsuit thing idk for this other house we have. which sucks :/
You all know where the blame for this goes . . . the mortgage industry should not have been allowed to operate under a cloak and dagger mode.
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And to anyone who is trying to blame the Clinton for inner-city loans — those loans made up LESS that 2% of the foreclosures. Don't even try to play that such a tiny figure - 1.8% I think is actual number - could EVER bring the market down.
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What happened? People STOPPED considering their homes to be "homes" and started to consider them as "investment items" - just like stock. Over 90% of the foreclosures are in the suburbs - those people "gambled" their homes - and lost due to an unregulated market.
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Adding to it — there are virtually no laws governing the lies told by mortgage bankers and real estate agents - they'll tell you anything to get you to buy — doesn't matter if they lie outright — the second you sign the papers, only you and the bank are liable — nefarious mortage lenders and real estate agents are off the hook.
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I know. This is exactly what happened to me - I'm surviving only because I bought so conservatively compared to my income to begin with. I have the paperwork from mortgage banker - "imaginary" number — makes no difference - I'm liable once I sign.
It wouldn't be so bad if they could resell these homes to those who could afford it, but unfortunately, many people are damaging their homes by putting holes in walls, taking out ac's, moldings, doors, damaging floors, etc. Who's to blame? Us, the people!
Don't buy what you can't afford.
And???
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please all those house-flippers and those who couldn't afford multimillion dollars homes ARE ALL TO BLAME for the downturn in the market
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boooobama will buy their mortgages and allow them to stay in their homes
with YOUR TAX DOLLARS
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Very sad…those poor people. Let's hope 2009 is a year of recovery and an opportunity to flourish.
boo fucking hoo…now my house
haha okay thats mean…but oh well
NOT*
Clinton's congress made it illegal for lenders to deny any home loans. It was supposed to be an American's right to own home apparently. It's a privelege, not a right people!
It pains me to see that people think the only reason someone has to foreclose is being 1) they went with something bigger than they could afford or 2) they couldn't afford to pay off the loan.
I was laid off last April. My house mate was September 2007. She has been in the house 13 years but now, due to job loss and finding other jobs that pay shit, the house will be foreclosed on.
Not everyone lives above their means. Some of us are just trying to get by at this point.