The Mortgage Crisis: Record Foreclosures
In the wake of the government take over of mortgage giants Fannie Mae and Freddie Mac, John Taylor, President/CEO of the National Community Reinvestment Coalition talks about the record number of home foreclosures in the US (Sept. 10)
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Considering Obamas steps to make our economy recover from mortgage crisis and to be able to help people who taken away their homes from them are the right steps said by financial experts.
People should do financial check ups so they can determine how much they can only afford particularly when planning to avail mortgage. It will help them to avoid fraud at any form.
same situation….get an attorney..to much corruption in the paper system and mers…fight these jags. F@#k Chase and all the other banks.. They make way more on foreclosing then modification. thanks to the bailout to AIG and big banks.The Gov allowed this because all there buds (big banks ) were making huge money…and now with the biggest financial heist in American history they have hedged there bets and made money on the bailouts. For the people by the people.nope. For the Gov. by big bus.
CRA 1977 had nothing to do with it. Loans only went sour after 1999 when Gramm-Leach-Bliley was passed by the GOP run congress and Clinton signed into law because he couldn’t veto it.
Even if the house is lossed to foreclosure in New Jersey you get FMV, 7.1 & 41.8 Real Estate Law and Practice. The problem with me is the Police in Warren County, 08865, buy foreclosed homes.
keep in mind the stupis ppl who dont even look over their contract play a major role.
Predicted crisis in 2007, and over 1.5 mil views ?
watch?v=zORv8wwiadQ
It stunned me!
If you make 500 bucks per week…you shouldnt buy a 400,000 dollar house.
The C.R.A. (community reinvestment act) helped create this…and the revisions of 1995 really fueld the fire.
THANK YOU PRESIDENT CLINTON !!! Im sure you knew this would have take a few years to explode…and thought your wife would be on the ballot to ‘fix’ it.
NOT !!!!
I say sink or swim! Let them droned in their own swim hole they have made with their high interest loans lope holes hidden fees that they so love to screw Americans over with! By letting these greedy ass holes eat it this will make room for new or smaller companies to take their place!
us govt are the worst crooks, why cant these pussies losing their homes work their ass off like the rest of us that work and pay our goddamn bills? i work 60-70 hrs a week, fuck those pussies, no govt is gonna bail my white ass out, there is no leadership in the usa, its all mafia scum crooks , every politician should be hanged for treason and ruining a once great nation, let these crooks work an honest days work, but they cant they are thieves, liars, con artists, fuck em
America is joining Russia and China in government essentially owning more of the country’s wealth. Does that mean that America is heading toward Communism??? If few more banks default, and the billionaires have already left the country by droves a while ago leaving the mess they create to the taxpayer to carry the burden. Billionaires took so much money doing what they do best, raking the profits, and now they left America hanging by a thread, as usual tax payer will pay thru the nose. COMMUNISM
I hope these Suits know how to Flip my Burger becuase when their Greedy No Account Ass’s are all working at Burger King I dont want to Wait after working a Long Hard and Honest Day at my Blue Collar Job……I guess the Mortage Companys should have been honest when they gave ARM’s to Working Class Stiffs and Lied to them about the Market, Next time I EVER trust a Yuppie in a Monkey Suit with a Tie it will be a COLD DAY IN HELL !!! (I took a fixed rate and have no problems….God bless the Rest !
The national bank (money masters) had a plan to extract all wealth from the people and government of the United States and thereby further enslave us. It’s not an accident.
Key words “government take over”
NWO
wow, listen to this you CEOs, Law Makers, whom ever cares:
High forclosure because:
1. Unequal Lending Pratices
2. Good credit consumer got bad loans
3. Unequal lives in America
4. Obama is white then 70+ % will vote for him and democrates shall occupy white house
5. before this crise, Bush sees it as a way to collect every penny out of americans and depleted their networth. along with high gas and food
6. i wanted fixed but was offered ARM from lender to lender with my 720+ credit score
wow