Re: US foreclosures up 57% in January

On Wed, 27 Feb 2008 15:19:57 -0500, "Tom Gardner"
<tom(spamless)@ohiobrush.com> wrote:


"Too_Many_Tools" <too_many_tools@xxxxxxxxx> wrote in message
news:bd9ffb1f-5485-49bc-8568-ab71ca3c428b@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Feb 26, 9:20 pm, "Tom Gardner" <tom(spamless)@ohiobrush.com> wrote:
"The Rifleman" <survi...@xxxxxxxxxxxxx> wrote in message

news:-u2dneDm_rQpq1nanZ2dnUVZ8rednZ2d@xxxxxxxxx> US foreclosures up 57% in
January
The number of homes facing foreclosure in the US rose 57% in January
compared
with the same month of 2007.
Exactly 233,001 homes received at least one notice about overdue payments
last
month, compared with 148,425 in January 2007, US property site RealtyTrac
said.

There was a 90% increase in the number of houses being repossessed by banks
compared with January 2007.

<snip>

Do you know why we have the problem? Lenders ran amok giving loans to
unqualified borrowers. Appraisers are under extreme pressure to appraise at
the
values that the lender wants in order to make the loan. Prices were inflated.
There are a LOT of speculators that thought the trend would last forever. Most
of the people that lost out deserved to. Either they were too stupid to read
the loan agreements or they were buying way out of their reach to begin with.
Loan originators hold the most blame. The whole industry needs to be
overhauled
and regulated better. People also need to educate themselves when they most
likely make the biggest investment of their lives. Is this the failure of the
fed or state? I blame the states and stupid people and greedy people.

I blame Bush.

The reason why this is happening is that there was NO regulation.

Intentional "pro business" screw the consumer REPUBLICAN BS running
unchecked.

And you the American taxpayer will be paying for this.

Did you really think that the bailouts would come for free?

TMT

There should BE no bailout. Blaming Bush? Well, why not? I don't follow how,
other than Bush is at fault for everything...it's called "Bush Derangement
Syndrome". Unfortunately, it's not realistic no matter how much you hate Bush.
Who are you going to blame next year if a Democrat wins? You should know that
people can choose NOT to be a victim.

Its fascinating how much power the Leftards attribute to Bush. He can
walk on water, control all those mind numbed Democrats, leap tall
buildings in a single bound and change banking regulations with a
touch of his wand.

Gunner
.

Relevant Pages

  • Re: Executive Compensation limits
    ... behavior because a student independently obtains a loan to pay for his ... Go ahead and blame Bush and Co. for the situation we are in. ... The truth is congressmen are slaves to corporate America. ...
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  • Re: Executive Compensation limits
    ... behavior because a student independently obtains a loan to pay for his ... Go ahead and blame Bush and Co. for the situation we are in. ... The truth is congressmen are slaves to corporate America. ...
    (rec.sport.golf)
  • Re: US foreclosures up 57% in January
    ... the loan agreements or they were buying way out of their reach to begin with. ... I blame the states and stupid people and greedy people. ... I blame Bush. ... The reason why this is happening is that there was NO regulation. ...
    (misc.survivalism)
  • Re: US foreclosures up 57% in January
    ... values that the lender wants in order to make the loan. ... Loan originators hold the most blame. ... I blame Bush. ... The reason why this is happening is that there was NO regulation. ...
    (misc.survivalism)
  • Re: US foreclosures up 57% in January
    ... the loan agreements or they were buying way out of their reach to begin with. ... I blame the states and stupid people and greedy people. ... I blame Bush. ... Did you really think that the bailouts would come for free? ...
    (misc.survivalism)