Homes lost, families desperate as mortgage rates skyrocket in US

Tens of thousands of people traveled to Washington, DC to take part in the Save the Dream Program, sponsored by the Neighborhood Assistance Corporation of America, or NACA. NACA helps people facing foreclosure to get a lower rate on their mortgage or a lower interest rate. Some people traveled from across the country, calling this their last hope to save their home.

Category:

News & Politics

Tags:

• RT
• America
• US
• mortgage crisis
• growing rates
• keeping home
• desperate
• black
• skyrocketing rates
• Kristine Frazao
• Cary Johnston
• foreclosure
• Bruce Marks
• Naomi Laurent
• Deborah Phillips
• Michelle Watts
• Washington
• Danny Schechter

[stangeriam]

The bankers are the TRUE terrorists.

We haven't seen anything yet

[crackerwv]

Banks set this shitty economy up in order to take control of all private property. Since the dollar is going to be dropped as the standard world currency, the value will drop. This is the bank's way of saving assets. They destroy the economy with their derivatives, kill the housing market, turn mortgages upside down, people walk away after 10-15 years, then forclose and snatch the assets for themselves at half price while making a profit AND getting the original property back. SCAM SCAM SCAM!

[MissTeenPregnancy]

Economy went way down. Therefore mortgages and rents should go way down. Simple solution

[srkh28]

good work!

[howhardgerrard]

@crackerwv You have misunderstood what my point, which is that the dollar is only the world standard currency in the minds of Americans outside the dollar is not used as mich as you may like to think. Europe for instance is dealing with an mortgage interest rate of between 3% and 6% depending on your deal. The crisis is to do with people wanting what they should not have and living outside of there means.

[crackerwv]

@howhardgerrard Really...the banks caused this crisis in the first place. The dollar is VERY quickly losing confidence because of the massive derivative trading and credit default swaps. We are losing the backing of the dollar to control the commodities market so it IS losing it's value around the world. If something sets off a dumping of the dollar, we are in deep shit and the dollar will IN FACT, be replaced by another world standard currency. You are a fool if you believe otherwise.

[howhardgerrard]

@crackerwv Banks do not want private property its worthless to them whats the point of owing property in a housing crash? and also "the dollar is going to be dropped as the world currency"!! I think a reality check is needed and that sort of ignorance and arrogance is what started the trouble.

[imbubba56]

How is that "Hope and Change" working out for you?

[GoodChineezeCheeze]

Why can't they live in flat? If you can't afford house - go rent flat!