Posted on 08/26/2010 11:48:31 AM PDT by NormsRevenge
WASHINGTON – One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.
(Excerpt) Read more at news.yahoo.com ...
US President Barack Obama listens to a question during a discussion on the economy with local families in Columbus, Ohio on August 18. Unemployment at 9.5 percent is the biggest concern of Obama, whose Democratic Party faces the possibility it could lose control of Congress in mid-term elections in November. (AFP/File/Jewel Samad)
And the stock Market. Every time it goes down to 9999 some mysterious buyers buy it up back over 10,000. Strange.
Emilio Carrasquillo is shown in Chicago, July 21, 2010 in front of a home that was used in a mortgage fraud scheme. The house on the 53rd block of South Wood Street in Chicago's Back of the Yards doesn't look like a $355,000 home. There is no front door and most of the windows are boarded up. Public records show it sold in foreclosure for $25,500 in January 2009, then resold for $355,000 in October. In between, a $110,000 mortgage was taken out on the home, supposedly for renovations. This June, the property went back into foreclosure. To Carrasquillo, head of the local office of non-profit lender Neighborhood Housing Services of Chicago (NHS), the numbers don't add up. He believes this is a case of mortgage fraud. Photo taken July 21, 2010. REUTERS/John Gress
The same one-out-of-ten probably should have never gotten the mortgage in the first place.
Meanwhile..
Mortgage rates hit low of 4.36 percent
http://news.yahoo.com/s/ap/20100826/ap_on_bi_ge/us_mortgage_rates
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Unfortunately, you need a thing called a job to qualify..
Whatever led him to that conclusion? \s
Didn’t he see the HUD fraud on the Sopranos?
U.S. President Barack Obama "fist bumps" White House Trip Director Marvin Nicholson on the first hole while playing golf with Cyrus Walker at Farm Neck Golf Club on Martha's Vineyard in Oak Bluffs, Massachusetts, August 26, 2010. REUTERS/Jim Young (UNITED STATES - Tags: POLITICS SPORT GOLF)
U.S. President Barack Obama tips his cap to the crowd after chipping onto the green on the ninth hole while playing golf at Mink Meadows Golf Club in Vineyard Haven on Martha's Vineyard, Massachusetts August 25, 2010. The first family is on a 10-day summer vacation. REUTERS/Jim Young (UNITED STATES - Tags: POLITICS SPORT GOLF)
What’s he doing? Is he urinating?
I hope not, could upset the bears, he probably has his steward closeby.. with a pee bucket.
Our credit union told us that even though the rates are low, very, very few people are qualifying anymore.
Sneaking a smoke because the media told us he gave it up a long time ago.
According to an article written about his latest golf game, I quote
“the Leader of the Free World walked into the woods for a moment, perhaps, just perhaps, looking for a fellow golfer’s ball. Ahem.”
Sure makes it sound like he was relieving himself.
Holy cow! That's awesome.
I refinanced to a 15-year fixed at 5% a while back. It was the best thing I ever did. I ultimately paid off the mortgage in 10 years.
We're debt-free, maxed out on 401(k) contributions, and still socking away that monthly mortgage payment for a rainy day.
Unfortunately, it may all turn out to be counter-productive, when someone decides we have too many assets or too much retirement income, and don't "need" Social Security.
No, he would have to be sitting down to do that.
If one out of ten has missed a mortgage payment... that does not seem to necessarily transfer into “facing foreclosure” status.... a little overly dramatic?
“What’s he doing? Is he urinating?”
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Probably getting weeweed up or weeded up...or both.
The banks are now doing risk assessments on the jobs that potential borrowers have, to see if in the current market, there is a high chance of layoff. If it goes over 20% in that field in that region, no loan regardless of credit worthiness.
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