Comments on: Increased Foreclosure Rates in US http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html Tue, 04 May 2010 16:26:25 +0000 hourly 1 http://wordpress.org/?v=3.1 By: MISES.ORG http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-614 MISES.ORG Sat, 23 Jan 2010 08:34:43 +0000 http://bankratescompared.com/?p=956#comment-614 Another opinion. And you know what they say about those. Another opinion. And you know what they say about those.

]]> By: Subvertor ... http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-606 Subvertor ... Fri, 22 Jan 2010 12:58:40 +0000 http://bankratescompared.com/?p=956#comment-606 I learned in college about the need to look at the premise that underpins a question, and yours fails every test. Why? Because foreclosures prove that capitalism works, not that it fails, or is failing. How do I know this fact? Because I am living in a house that some greedy bastard tried to by with sketchy income and little down payment. He foreclosed, and my wife and I came in with solid jobs and a down payment of 25%. I love capitalism. I learned in college about the need to look at the premise that underpins a question, and yours fails every test. Why? Because foreclosures prove that capitalism works, not that it fails, or is failing. How do I know this fact? Because I am living in a house that some greedy bastard tried to by with sketchy income and little down payment. He foreclosed, and my wife and I came in with solid jobs and a down payment of 25%. I love capitalism.

]]> By: Enzyte Bob's 3rd Clone http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-610 Enzyte Bob's 3rd Clone Fri, 22 Jan 2010 12:38:42 +0000 http://bankratescompared.com/?p=956#comment-610 I love how you post these great references, yet the libs can only talk about how they won the election. LOL! I love how you post these great references, yet the libs can only talk about how they won the election. LOL!

]]> By: Enzyte Bob's 4th Clone http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-608 Enzyte Bob's 4th Clone Thu, 21 Jan 2010 03:18:41 +0000 http://bankratescompared.com/?p=956#comment-608 Democrats want people to believe it's Bush's economy unless there is a substantial recovery and greatly reduced unemployment. Some of us will remember that the "stimulus" was supposed to hold unemployment at 8% and that's why it supposedly had to be passed immediately. Obama started his Presidency off with a $787 billion dollar lie! As for that BS about "underestimating the damage Bush caused" I'm one of many people who isn't buying it. What kind of idiot introduces a $787 billion dollar piece of legislation if they don't know the real situation? Obama works for the big bankers, not the American public. Democrats want people to believe it's Bush's economy unless there is a substantial recovery and greatly reduced unemployment. Some of us will remember that the "stimulus" was supposed to hold unemployment at 8% and that's why it supposedly had to be passed immediately. Obama started his Presidency off with a $787 billion dollar lie! As for that BS about "underestimating the damage Bush caused" I'm one of many people who isn't buying it. What kind of idiot introduces a $787 billion dollar piece of legislation if they don't know the real situation? Obama works for the big bankers, not the American public.

]]> By: luv2help http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-613 luv2help Wed, 20 Jan 2010 22:49:47 +0000 http://bankratescompared.com/?p=956#comment-613 I understand your frustration. I do think you are in the minority and the majority of these problems (foreclosures) are based on loose lending rules in the last 3 years that allowed too many folks to buy houses at perhaps more than they could afford. Your situation simply reveals that real estate is indeed truly an investment. It's generally much safer than say the stock market, but also carries risk just like ANY investment. While usually, it is a low risk and your investment appreciates in value, many people have experienced what you have and have lost equity and if they had an ARM loan, may very well have no option but to get foreclosed on. I'm very sorry this happened as I understand you had the best intentions and could not have known the market would go the way it did. People lose money in stocks all the time, and sometimes people lose money in Real Estate. I understand your frustration. I do think you are in the minority and the majority of these problems (foreclosures) are based on loose lending rules in the last 3 years that allowed too many folks to buy houses at perhaps more than they could afford.
Your situation simply reveals that real estate is indeed truly an investment. It's generally much safer than say the stock market, but also carries risk just like ANY investment. While usually, it is a low risk and your investment appreciates in value, many people have experienced what you have and have lost equity and if they had an ARM loan, may very well have no option but to get foreclosed on.
I'm very sorry this happened as I understand you had the best intentions and could not have known the market would go the way it did. People lose money in stocks all the time, and sometimes people lose money in Real Estate.

]]> By: shepsgirl http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-612 shepsgirl Wed, 20 Jan 2010 18:57:58 +0000 http://bankratescompared.com/?p=956#comment-612 HUD does not lend money, so whoever you are talking it, it is the wrong person. It sounds like when you "trying to do the right thing" you screwed up and got yourself an ARM loan. The "right" loan for a homeowner is a fixed on. HUD does not lend money, so whoever you are talking it, it is the wrong person.

It sounds like when you "trying to do the right thing" you screwed up and got yourself an ARM loan. The "right" loan for a homeowner is a fixed on.

]]> By: b.wtfdik http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-607 b.wtfdik Wed, 20 Jan 2010 16:55:54 +0000 http://bankratescompared.com/?p=956#comment-607 Homeowners need jobs. Period. Just giving them money might make a couple of mortgage payments, but there is upkeep, and property and school taxes to consider too. When a company goes out of business, whole towns can be made worthless, you can't sell when there is no more business for people to be employed in order to pay for those homes. As to how high unemployment will go, I'm thinking possibly as much as twelve percent. More probably ten. Its not going to be pretty and its not going to be over this time next year. Answerer 2 is correct mortagage companies sold that loan in little pieces to other companies, they already got their money and they don't care about making arrangements. And as to flipping burgers...you would need to work two full time jobs to make a thousand a month, and thats a pretty average mortgage payment. Not even counting those who pay far, far, more. Homeowners need jobs.
Period.
Just giving them money might make a couple of mortgage payments, but there is upkeep, and property and school taxes to consider too.
When a company goes out of business, whole towns can be made worthless, you can't sell when there is no more business for people to be employed in order to pay for those homes.

As to how high unemployment will go, I'm thinking possibly as much as twelve percent. More probably ten.
Its not going to be pretty and its not going to be over this time next year.

Answerer 2 is correct mortagage companies sold that loan in little pieces to other companies, they already got their money and they don't care about making arrangements.
And as to flipping burgers…you would need to work two full time jobs to make a thousand a month, and thats a pretty average mortgage payment. Not even counting those who pay far, far, more.

]]> By: darkangel http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-611 darkangel Wed, 20 Jan 2010 11:50:18 +0000 http://bankratescompared.com/?p=956#comment-611 Potentially, any mortgage runs the same risk. If people made bad loans, they are at risk. This is the nature of banking, incidentally. EDIT: Steve C., who "put them into the homes?" I didn't know anyone but me put me into a home. Potentially, any mortgage runs the same risk. If people made bad loans, they are at risk.

This is the nature of banking, incidentally.

EDIT: Steve C., who "put them into the homes?" I didn't know anyone but me put me into a home.

]]> By: Enzyte Bob's 4th Clone http://www.michigandreamhomeproperty.com/increased-foreclosure-rates-in-us.html/comment-page-1#comment-609 Enzyte Bob's 4th Clone Wed, 20 Jan 2010 11:18:10 +0000 http://bankratescompared.com/?p=956#comment-609 Oh, but wait! The change is coming, I promise. It'll happen...lol. Oh, but wait! The change is coming, I promise. It'll happen…lol.

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