1 posted on
01/27/2008 5:03:23 PM PST by
traumer
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To: traumer
“I had my American Dream but it became a nightmare.”
2 posted on
01/27/2008 5:04:24 PM PST by
traumer
To: traumer
3 posted on
01/27/2008 5:05:37 PM PST by
Tax-chick
("Gently alluding to the indisputably obvious is not gloating." ~Richard John Neuhaus)
To: traumer
5 posted on
01/27/2008 5:06:15 PM PST by
RDTF
To: traumer; AuntB; cripplecreek
6 posted on
01/27/2008 5:06:45 PM PST by
Clintonfatigued
(You can't be serious about national security unless you're serious about border security)
To: traumer
Just for the record: Cleveland is in Ohio, not Illinois.
7 posted on
01/27/2008 5:09:28 PM PST by
madison10
To: traumer
Does the (IL) mean Illinois?
8 posted on
01/27/2008 5:09:53 PM PST by
Texas Eagle
(Could pacifists exist if there weren't people brave enough to go to war for their right to exist?)
To: traumer
Shaker Heights the Cleveland suburb is in OH not IL.
9 posted on
01/27/2008 5:09:55 PM PST by
kalee
(The offenses we give, we write in the dust; Those we take, we write in marble. JHuett)
To: traumer
Tripled police, it’s a ‘ghost town’, but, the people are still leaving, smells funny to me.
10 posted on
01/27/2008 5:10:12 PM PST by
kinoxi
To: traumer
This was all very predictable. High risk loans result in foreclosures. It has always been thus. The FHA went through this same phenomenom 30+ years ago.
12 posted on
01/27/2008 5:10:36 PM PST by
popdonnelly
(Get Reid. Salazar, and Harkin out of the Senate.)
To: traumer
quote from the article:
“All you needed was a pulse to buy a house. Some loans were written with no money down, no proof of buyer’s incomes. They did not even check what people were saying. Most of those folks were jobless,” he said in an interview.
Wait. I thought the banks were greedy? Here it sounds more like the people were just stupid. So why do we just blame the corporations? Why doesn’t anyone say, “These people did something stupid”?
13 posted on
01/27/2008 5:11:01 PM PST by
vladimir998
(Ignorance of Scripture is ignorance of Christ. St. Jerome)
To: traumer
They are called the neighbors who disappear in the night.
14 posted on
01/27/2008 5:11:03 PM PST by
kinoxi
To: traumer
US mortgage crisis creates ghost town (IL)The last I heard, Cleveland and Shaker Heights are in OH not IL.
Next time get your facts straight.
What do you think this is - The Daily KOS?
15 posted on
01/27/2008 5:11:11 PM PST by
reg45
To: traumer
She refinanced in 2003, but did not realize the document she signed included provisions to radically increase the interest rate.No point in reading and understanding a document that contains potentially life-altering consequences.
17 posted on
01/27/2008 5:12:47 PM PST by
TruthShallSetYouFree
(Abortion is to family planning what bankruptcy is to financial planning.)
To: traumer
The police station parking lot is full. The officers, who have seen their numbers triple since 2006, are coming back from their rounds. They speak of installing alarms in some of the homes claimed by squatters. So, the population is decreasing but they hire more cops? What are they going to do, write each other speeding tickets to raise revenue?
To: traumer
This doesn't describe the Shaker Heights I know, a reasonably prosperous and stable long-established community. It must be a cherry-picked street or two up against the border of Cleveland proper.
To: traumer
Holy Frijoles. I did a zillow.com search for Chagrin St. in Shaker Heights, OH and they show an 8br, 2ba home for 186,000 dollars.
Who can't afford that?
21 posted on
01/27/2008 5:14:00 PM PST by
Texas Eagle
(Could pacifists exist if there weren't people brave enough to go to war for their right to exist?)
To: traumer
Oh good grief.
Are we led to believe that an entire town took on loans they couldn’t afford?
Th truth is that the town has been in decline for decades, as has most of the Cleveland area.
What’s next? A picture essay on how the “mortgage crisis” has destroyed Detroit?
23 posted on
01/27/2008 5:14:27 PM PST by
kidd
To: traumer
She stopped making payments in 2006 and shows her unpaid bills totaling 24,000 dollars.
Sounds like she stopped making payments not only on her mortgage but also her electricity, her water, her swerage, her phone, her credit cards, and every other bill that was coming in........
30 years living in the same house and she re-mortgages? Wonder what she did with the cash............
There certainly is a heck of a lot more to this story than is being reported.......
To: traumer; All
I know Clevelend is in Ohio, and I'm pretty sure shaker heights is one of the more affluent suburbs, and I don't think anyone has really relied on the steel industry for a long time...
maybe this ought to be posted under fiction.
To: traumer
A friend sent me the URL for this article from BBC News that does seem to me to do a real good job of explaining the whole sub-prime mess and how it affects other investments and the broader economy. I'm no expert on this stuff and it helped me to get a better handle on this stuff.
The US sub-prime crisis in graphics
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