US mortgage crisis threatens tenants - 6 Dec 08

[monkeyman1140]

Actually we spend 2 trillion a year on defense, if you count in veterans hospitals, extra spending on active wars, and spending on side contracts

[piggadave]

that's what happened when u keep spending 600 + billions on defense.....

[Zorrachus]

This is what happens when you want a big house and can't pay for it. Most of these families take out loans with no intention of paying them back, when they can't afford payments, there goes the house in foreclosure. Banks should have forseen this when lending money to losers.

[Nikateer]

Everyone predicts that this crisis will be over in 2-3 years. LOL! Try 10-20 years! When real estate was booming at a fast rate I knew for a fact that the balloon was going to bust! None of my friends listened to me and all went on bought homes. Now 2 of my friends lost their jobs and the others are skating on thin ice! I knew it was a scam from the begining. My grandfather taught me one important lesson in life n he said '' if it smells fishy it is fishy!''

[imtweetydiva29]

Thankyou for the insight and real news AlJazeeraEnglish.The crisis is getting worse. I live in PA,USA. I look across the street there is a foreclosure, you can't even walk down a block you see for sale signs in yards. In the video you would think the bank would let the people stay since the guy does work and can pay.

[stoneofrefuge]

most of these replies are some of the posters who have posted on the yt

[yis2]

Unbelievable. Where the hell are their family members? Mother/father? Brothers/sisters etc.. how can u let them live like this? Shame on you relatives..Family is numero uno!

[sharkloaner]

In america people have no families. The allmighty dollar is the americans' god and family. You think USA is Europe? Think again. USA is the biggest shithole money oriented nation on earth; that's why they are where they are today. Alone and hated.

[stoneofrefuge]

I have to tell you this, I am not going to sit by and let you run down my country because of its financial conditions. USA has taken care of the dictatorship of Saddam Hussein. Now you have a Republic of Iraq now in standing. Its rebuilding up slowly with time. Remember, Time heals. :)

[wilatemodel]

@sharkloaner alone & hated and in possession of 15000 nuclear weapons.....very dangerous..

[wildnutria]

N W O, is now, why do the banks not rent them out, no they chose to let the houses rot, the banks are a big part of N W O....get ready for the F E M A camps!!

[stoneofrefuge]

hmmmm this is intersting. I never known this was going to happen.

[ANewDay2007]

I feel so sorry for this poor family - and millions of families like them all across the country.

I hope that everyone responsible for creating this housing crisis pays through the ass for what they've done to these struggling families.

[stoneofrefuge]

I feel your pain, I feel their pain, I wished there was someway i can help the poor families.

[anonymous915]

It would be nice if they could assume the mortgage...

[Confuzzler]

Really?Is that all you can contribute?You must be a dinosaur,a McCain Palin supporter & narrow thinking beer weakened man. Tatoos? Piercings?Mama pays your rent.Your cigarettes sink & news means nothing other than a place to stage your ignorance.Surface clinging people see nothing beyond their own insufficent value as a part of a meaningful community.

[Alason525]

This is the family that this is about. It does suck that we were paying the landlord money and he didnt pay the mortgage. It can happen to anyone BLACK or WHITE. We are just like everyone else trying to make it. We are just thankful and blessed we have somewhere to go, as a family. If you want to know more about us you can go on our myspace page and type in William$Alason, there you can see more pictures and how we are just a normal family trying to make it!!! Thank you for seeing our story.

[Confuzzler]

Lol, it's pretty funny to read all these commments.

Actually, I'm the Brother of the Mom, and Uncle of all the children.

I feel terrible for them, but I'm glad they're somewhere safe, staying together.

[ZB90]

Damn never knew 1 man (Mr. Bush) could cause all of this trouble to America. Tough times man, tough times.

[wdcsucks1]

and its just going to get worse! paulson and others should be hung in public!!!

[itubeonu]

these banks are assholes! sell these houses for what they are worth!!!! so u lose some money but they get enough money from the governemnt to make the differnce. this is retarded. you cant keep proping up these prices, the bubble popped let the prices go down. they arent following a free market. prices come down sometimes. look at oil. these guys are stubborn.

[rascal1964]

are those kids white or black?

[JadeTsukasa]

both.

[DillonX]

Bush screwed us all...okay, okay, I know - not the top 5%!

[aquafishsoup]

jobless fuck kiss my ass

[OsamaIn2008]

That's what she gets for marrying a Negro.

[MossadAgentWatching]

what's happening to the richest country in the world ?????????

[nickvanzetti]

just google Mary Elizabeth croft,"how i clobbered every......

[stumpie2]

the banks leave them empty because they dont need to rent them , the tax payers paid them 750 million dollors to bail them out of the default,the banks have enough money why rent them,please someone wake up america

[AW2378000000000000]

Why doesn't the bank just take ownership and continue to rent to the tenants? It does not make sense.

[bgturk]

because you keep bailing them out

[wcarlpdrysdale]

make sure that the bank pay the property tax or forfeit the property to the people!

[AntiShocker]

That's gonna be a lot of homeless people soon. They'll probably offer them all a free train ride to a FEMA camp where they'll be looked after and then gas them. Everyone will just stand by and watch because getting rid of the homeless doesn't affect their day. Just like melamine tainted food in China doesn't affect Americans. Well people, wake the fcku up!

[SomeCynicalGuy]

Wouldn't the banks be making money and doing the economy better if they offered temporary rentals of the otherwise abandoned houses to people who needed them? This just doesn't make sense.

[hwy9nightkid]

thats right, because technically the bank owns the home.. interesting thought

[sean22919]

this type of shit needs to be stopped.. im sick of these fucking banks just sitting around enjoying themselves while everyone else suffer...

[50Lobo]

Its time for Revolution!Once the American people start to go hungry for food, and a place to live in.

You will witness a Revolution!

[zizoubilly]

This happens when you focus on OTHER countries rather than your OWN. Lets hope Obama brings CHANGE!

[ilikeicecreamandcake]

$70 billion from the bailout will be used for corporate wining, dining, private jets, spa treatments, high class escort services and pedicures for men and women.

[hwy9nightkid]

can you please cite your source for this claim? I want to see it.

[ilikeicecreamandcake]

google $70 billion bailout. you will see numerous links. click on the guardian link. it clearly states that 10 percent of the bailout will go towards pay and bonus deals. or type in "ten percent bonus deals" and click first link - 247wallst.

i heard it on the radio here in the san francisco bay area 1.5 months ago.

[SomeCynicalGuy]

A few days after the bailout, AIG spent a large sum on a retreat at an exclusive resort in California somewhere. I'm not 100% on the figures, but I believe the bill came to a hefty sum of $400 million or so. I have no doubt that these people spent a lot of their federal bailout money irresponsibly and in their own interests.

[umalim]

i feel sorry for those ppl... did u see the childern??

day after a day my hate toward capitalism grows

[hwy9nightkid]

free-market capitalism never existed, if anything you should recognize it is not a fair and balanced system. Free market Capitalism is a great thing, but like a utopian society it is an ideal

[ANewDay2007]

Capitalism didn't cause this economic crisis.

THE U.S. GOVERNMENT, WALL STREET & MANY GREEDY AMERICANS did.

The U.S. government changed the banking & mortgage laws many years ago - making it possible for Wall Street banks & the real estate industry to peddle these unaffordable "prime" mortgages to the American people.

And many Americans took the "prime" mortgages - even though they couldn't afford them in the long run.

Capitalism works. Greed and short-sightedness doesn't.

[stoneofrefuge]

I have to agree with you there.

[oceanbound222]

Serves American right !!!!!!!!!!!!!

[Daritto7117]

I believe you mean American(s)dumbass...

[hwy9nightkid]

those people had nothing to do with whats going on? Did you not hear what the video stated? These people are innocent to whats going on.

[oceanbound222]

THey voted for the terrorist BUSH twice !!!!!!

[hwy9nightkid]

I didn't vote for him twice, I didn't vote for him once.. don't put me in league with those people. Does your country always follow YOUR bidding? NO!

[SomeCynicalGuy]

That's the thing about majority vote...if 51% elect somebody, the other 49% don't get their way. And if you recall, the Bush/Kerry election was pretty damn close, with about 5% voting for Nader, so that's pretty much less than half the country that voted the guy into office. To judge an entire group of people based on the acts of a few - that's extraordinarily foolish.

[quicktripgas]

It really pisses me off to hear the faggots on CNBC say that things are not that bad.

[SubmarinerAndroid]

It should be illegal to kick a family out with only THREE DAYS notice. But Indiana is a very Republican state, so people don't matter.

[TECHKLEC]

Actual eviction under these circumstances usually take a few months. The new title holder needs to get a writ of posession in most states.

[wheresthebody]

its time for the american people to reclaim their land

[americanmuslimgirl]

May God keep them safe and give them somewhere to stay.

They seem like a strong, loving, and grateful family.

[epa9975]

Great reporting.

[hajqbvii]

..it doesn't make any sense...the bank could be collecting the rent from this family instead of leaving the house empty...

[ratonnewmex]

land of fucking GREED ... fuck the U.S.

[tinramm]

but you're american.

[ratonnewmex]

DON'T remind me

[Cala6491]

that's bullshit if the bank is going to leave it vacant, that's the same as letting them stay so why throw someone out on the street for nothing?