Home Foreclosures Continue to Skyrocket

[rogueronin82]

McGee is broke. Her money problems started about two years ago and I have been aware of them for some time. The state of California has filed a $127,000 tax lien against her. The IRS says she owes them at least $210,000 in unpaid taxes. She's not commenting on any of this at all.

[ThePrezidentialbey]

IMPORTANT!!! Watch, A HOME FIT FOR ROYALTY!!!

[TheNewMusicNetwork]

I've seen videos saying that you can wipe out your home debt by writing on a piece of paper and sending it out to a company. it's some loop-hole that harry truman left in, way back in the 50s.

it's called A4V and I found it here.

/watch?v=XrVyfc9NEhk

[Zorrachus]

Why blame the president when you should blame yourselves? YOU got a mortgage, YOU tried to buy a house YOU couldn't afford, YOU didn't buy it with cash, instead YOU used credit.

[MandMEvangelists]

"This sub prime mortgage mess would have never happened if We the People who do not have high paying jobs would have been granted the right to borrow a low interest home mortgage loan based on income directly from the Federal Reserve Bank" No, no, no. This wouldn't have happened if we had the Federal Reserve in the first place. We wouldn't have had this happen if we handed over the countries right to print their own money to a NON Gvt entity.

[MandMEvangelists]

"financial aristocrats of Wall Street & the bank's"- You meant NEW WORLD Order. Once people realize their plan they will get the whole scope of what is to come. "People don't get it they market is not coming back for a very long time" - You are right on! In fact, 2010, and 2012 this is going to happen all over. Combine that with a stock market crash because of the dollar crashing and the bird flu, things are going to look really bad. You CANNOT sell your house when everyone else is too.

[ciro9]

Let no one fool you. President Barack Obama is a representative of the financial corporate aristocracy of our nation whose policies are designed to defend the wealth of the ruling corporate elite. Unfortunately, organized advocacy group's like ACORN or Move On should get together and organize a huge monster demonstration against their beloved President on the same spot where they shouted with glee when he was sworn into office in Washington D.C.

[ciro9]

The Presidents senior advisor & assistant Valerie Jarrett made her million's in the real estate market . Most of his inner-circle up on the Hill is made up of former CEO's of Wall Street & the Bank's and the reason why he has done nothing to save the million's of primary home's that have gone & continue to go into foreclosure since he took office.

[ciro9]

I blame the "man of change we could believe in" President Barack Obama for not doing anything to help these American families from being evicted from their primary home's. In my opinion. This phoney-baloney will be a one term President. This is the message  we all should (like I do) send to the White House day after day and remind this turn-coat that he is nothing more than a puppet for the financial aristocrats of Wall Street & the bank's.

[DullardGuy]

Equity? whats that? My neighborhood was affected by this. Lost equity when prices came down and foreclosures put a scar on the value of my property and others. Will it recover? Maybe.

[antiforeclosurearmy]

Why do you need it to recover? Why can't we live for FREE in these houses? We could get together and do a run on these banks and put them under our heels! Click on my link for my video idea.

[mike6459]

people were watching to many episodes of "flip this house"

[flagship21]

People don't get it they market is not coming back for a very long time. Demographics are working against the market. Unless the US lets millions of immigrants in. These people are broke.

[ciro9]

CS2008: between 500,000 to one million cats and dogs are at risk of becoming homeless & become the victim's of abuse, killed on the street's of America, euthanized by stranger's because of over-crowding shelter's) etc. Most of these pet's (who in my opinion are like innocent children) will die horrible death's in a strange place. Just think of the fear that these beautiful and intelligent animal's will face (coming from a loving secure home that was foreclosed) when that time arrive's.

[ciro9]

CS2008: If you think we have problems now. Wait until over 100,000 of our troops and over 100,000 private contractor's return home by late summer of next year from Iraq all looking for work, not to mention the possible flooding of refugee's into our southern borders (Arizona, Texas, California etc) as the situation worsens for the govt. of Mexico (even after billions of our tax dollars were given to them) that is on the verge of collapse.

[ciro9]

CS2008:This sub prime mortgage mess would have never happened if We the People who do not have high paying jobs would have been granted the right to borrow a low interest home mortgage loan based on income directly from the Federal Reserve Bank which should be nationalized for the moderate income working class people of our nation who for too long have been enslaved by banks and lending institutions by high interest rates on money that they receive at a low interest rate from the Fed.

[antiforeclosurearmy]

We don't have to pay these rotten banks a cent. If we all got together and did a Rip-Roaring RUN on these banks, we could stay in these houses and screw the banks million-dollar interests they are making. Click on my name for the video.

[ciro9]

CS2008:These homes couls be saved by getting the bailed-out bank's to reduce the interest to 4%, extend the terms for 40/50 year's at a fixed-rate and it wouldn't cost the taxpayer a single dime.

Freddie & Fannie would only be used as a back-up to plug up any gaps. Most of these loans would be fully- paid off way before 40 year's due to death, relocation of familie's, divorce etc. These American families with children, the elderly

disabled etc., need help to stay in their home's.

[ciro9]

CS20This predatory capitalist system created more Frankenstein's (i.e. loan modification experts, lawyer's etc) who continue to pound these people who face foreclosure day after day from ads on TV, Cable, Radio & I even saw one in a public bathroom! This should be the bank's job to do! Why do these people who are already broke & only looking to save their primary-home from foreclosure need to pay for outside help to save their home's? This is what they got for voting for the man of CHANGE! 08:

[ciro9]

CS2008: government endorsed plans to prevent foreclosure have continue to fail. 55% of borrowers whose mortgage (and the bank will only lower the interest rate for one-year-only) that have been modified were already deliquent within 6 months. Simply put. It dosen't work. These (bail-out) bank's cannot be trusted. I've said this since my high-school days that one day our draconian economic (predatory Capitalism System towards the working class) will be exposed and that day has arrived.

[monkeyman1140]

The financial industry is going to be heavily regulated, and it should be. The Bush Regime's obsession with deregulation caused this problem. You can't trust anybody to self-regulate. The individual citizen must follow regulations (laws) every day, or the cops show up and your door. So why are businesses given this magical exemption on following laws?

Its the failed libertarian concept that the market will self-regulate.

[ciro9]

"The Change We Need" must come from the Federal government.This sub prime mortgage mess would have never happened if "We the People" who do not have high paying jobs would have been granted the right to borrow a low interest home mortgage loan based on income directly from the Federal Reserve Bank which should be nationalized for the moderate income working class people of our nation.

[CalifSunshine2008]

0 percent loans were started under Clinton. Any time the government does ANYTHING it's pretty bad... get in aline at the DMV and tell me it isn't so...

[HighIncidentBandit]

The party is over.

[CalifSunshine2008]

did Pelosi say that????  she is getting kickbacks from the bailout through her husbands investments at Starkist Tuna..wake up!

[ciro9]

The newly elected President Barack Obama could enact(once he takes office)to federally mandate long term loan modification's (interest) on behalf of all Americans with ARM Negative (sub-prime/ deferred interest) mortgage loans (the main reason for foreclosures) at a low interest rate (fixed by the Federal Reserve Bank) for 40 & 50 year's, depending on income. Leaving it up to the bank's to do this is akin to putting the fox in the hen house to protect them.

[zupf]

NOOOOOOOOOOOO Brenda. You SIGNED on the dotted line for an adjustable rate mortgage. You Ma'am are a moron. You were fat dumb and happy when your home value kept rising. Go cry to someone else.

[LGLG69]

Why would anybody want to keep a home that's value has dropped signifigantly and there is no equity. You just keep throwing lots of money away. For some it's not worth it. In our neighborhood there are foreclosures popping up all around, and that brings down the home values more. I can't blame people that don't want to get screwed by the lenders anymore. All this adjustable rate bullshit is what screwed people over. Keep it simple, with fixed 30 year loans. No more adjustable rate BS!

[CalifSunshine2008]

The stock market would not have crashed under McCain....and the home values would be going back up.....

[EricJames883]

Most foreclosures today are not because of people that cannot pay for the loan they take out. It's lies from the Banks / loan companies that claim you missed a payment etc. then use these excuses to raise your payment beyond what you can afford to try and get more money in their pockets or foreclose since you can't pay. Another reason they foreclose is due to "home values dropping in a specific location" - This stated by an Executive Vice President of a bank to U.S. House Finance Commitee

[Anothercoilgun]

The assholes who decided to raise the interest index with a kite on a windy day is to blame. Not money, but interest is the root of all evils.

[Anothercoilgun]

Who can afford 20% down for a fixed 30 yr loan when all houses are appraised 2x more than should have been! Put down 20K for 100K loan. Put down 40K for 200K loan. Since little to no houses are on the market below 200K, people having the power to plot down 40,000 non borrowed money deserve not to live in a house. Cold hearted statement and means the nation deserves no right to live in a house seeing as how the nation does not have 40K of non borrowed funds at their disposal.

[Anothercoilgun]

What does big mansion have to do with the foreclosures. Stupid idiotic assumptive guest. Raise in interest and fall in house values regardless of house value or size. Stupid fool.

[Anothercoilgun]

Interest only loans is just a loop hole designed for investors to get in fast and get out faster. Never was meant for actual long term residence. Gross deliberate negligence by the lenders period. Interest only home loans should be illegal for residence.

[briteamerican]

I agree, they sucked us in now robbing the hard working American people, Shame on America...the vultures will now decend again. Problem is there will not be a next time, unless they sell up to foriegn invester and nationals. Move over brother the GLOBALISTS' are winning

[aviomaster]

A lot of ANGY people on the streets ,... WILL cause a STREET war ... WAR ON USA GOVERMENT .... GOVERMENT caused this ... so they can make money ,... BUT this will haunt them down ..