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 U.S. (Sept. 10)

Category:

News & Politics

Tags:

• mortgage
• foreclosure
• crisis:
• record
• foreclosures

[spectrum0590]

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.

[spectrum2000now]

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.

[monkeyman1140]

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.

[YsudolY]

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.

[biblefarce]

keep in mind the stupis ppl who dont even look over their contract play a major role.

[bankruptfeller]

Predicted crisis in 2007, and over 1.5 mil views ?

watch?v=zORv8wwiadQ

It stunned me!

[951pete]

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 !!!!

[courtneyblushtg]

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!

[1955porsche]

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

[LetItFloat]

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