Foreclosures: 'Worst three months of all time'

CNNMoney.com ^ | 10/15/09 | Les Christie

[RockinRight]

When this hot air balloon bursts it will not be pretty. Somebody is manipulating the market to make it appear everything is just hunky dory preceding the mid term elections.

Thankfully, the public isn't buying it...Specter's losing, the GOP has a several point advantage over the Dems in the general congressional ballot...

[reagan_fanatic]

Is this part of that Hope And Change the American people ordered?

If so, I want an RMA to send it back.

[norraad]

Amen, brother!

I get a kick when Chris Hitchens says;

"I'm still waiting for your point?"

when some fool says he's said something offensive.

[WOBBLY BOB]

ping

[KTM rider]

Because my hours have been cut way back since Obama took office and all capital investors pulled out, I have been robbing peter to pay paul. I have made all my payments but my life savings is getting whittled down and I will soon be out of rope

So I called the mortgage holder to see what they could do.

they said they may be able to re-adjust my payment to within 35% of my income

lessee, 60% tax, minus 15% utility bills(with their embedded taxes), leaves 25% of gross income to pay mortgage/rent, but hey thats alright with the slavery brokers

since I am down about $1000 a month, they may be able to knock $100 off the mortgage.

Now thats what you call hope and change. You ask for a life preserver and they throw you a straw and say start sucking

[Freedom_Is_Not_Free]

This is because of the summer moratoriams on foreclosures. It allowed the fringe media to pretend things were getting better all summer. All the while, a big backlog of properties in default were building up behind the dam, then a couple of months ago they re-opened the floodgates and lifted the moratoriums.

Pay me now or pay me later. It is just like Cash for clunkers. You can change the timing of what is going to happen, delay it, accelerate it — but you can’t change the outcome. Even if the US Central government succeeds in delaying the coming depression, they can’t stop it.

It will be like this flood of foreclosures after lifting the moratoriums. The depression will come and the ignorant masses will be SHOCKED, fooled into thinking uncle sugar kissed it and made it all better. Fools. Ditto the stock market. They can temporarily prop it up but they can’t prevent it from tanking forever — and this right after Joe Moron decides to finally get back in, losing another massive chunk of his 201(k).