Foreclosure Sweet Home

Foreclosure down 7% for December 08, because banks believe in Christmas! Holidays- Get out of Mortgage free Card!

The last comment was three months ago? Thats when the subprime fell. In light of what has happened to Fannie Mae and Freddie Mac along with the stock market, we can say this was made when the tip of the iceberg had emerged, and now has even more precedence today in the aftermath after a $850 Billion Dollar bail out package.

So many properties have went underwater now that it has caused a major financial implosion.

I'd say "great pod" if it wasn't so damn disturbing. Slowly, we will focus on those who made a bundle on the whole mortgage mirage. Accountability...the banks are supposed to know about that, right?

AJcowley

i SHOT my lunch out of my nose why reading your post.

Probably the dumbest thing i read today

GOD bless big oil
god bless america

In the end it is the banks fault for the following reason; The establishment loaned monies based on the assumption that the market would go up, brokers and real-estate agents told everyone that they could re-finance with this 'new' equity in their homes. Now that assumed equity has become a deficit and the banks say "why did you think you could afford that?!" The professionals dropped the ball on this one. Owning your own home is an American dream, not an example of irresponsibility.

At what point does the lender become responsible?

How many billions were made off of these blue collar workers?

You make it sound as if every american is getting foreclosed on

God bless america
god bless big oil

Housing Bubble, Inflation Bubble, and Gas Bubble = Depression

Oh, no doubt whatsoever that there is PLENTY of blame to go around in the home mortgage market right now. Part of the problem has already begun to right itself, the predatory type lenders and companies that encouraged this garbage have already been dropping like flies. I hope there is substantial legal action taken against them as well. The 2nd part of the problem is the morons that gladly took "no income documentation" loans and products like that knowing full well that they didn't have a snowballs chance in hell of payng for it when their rates adjusted. I know a few honest mortgage brokers that missed out on a lot of business during the housing boom because they refused to write loans for people that they knew full well were presenting fraudulent income information. They may have missed out on some cash but they are still in business and making a living. I hope the predatory lenders and the dishonest buyers both rot in pain for the mess they have created.

We need a government appointed 3rd party to regulate and sit in on all deals that require people signing contractual agreements over $10,000. There are far to many greedy lying salesman in our society and people are stupid and naive. On the even better side it would create some more jobs!

This whole scenario should have never been allowed to happen. The salesman who are the experts (and predators in this circumstance) should only sell homes to people with verifiable means to afford them. Shame on profiting from other people's misfortune and foolishness. Our society is now consuming itself it seems. How embarrassing.

thanks team for assembling these pods together into something human. I had seen all of the clips separately but compiled it works better....too bad its Adam though...since i had the impression that he was a biased corporate tool from other pods with him...lmao....sorry, good job guys...yes even you Adam! =P

OH and I almost forgot....
What happened to the good ol days when people would barricade themselves in their house and go down fightin? Guess that went out with the whole Waco thing....