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The majority of these bad loans were given to minorities who didn't have the credit score to buy a dog, much less a home. But freddie and fannie--who caused the housing bubble--who support ONL:Y democrat candidates--is to blame. Now 28 days b4 elections, the dems are freezing foreclosures--to buy votes from dem homeowners who should never have been given a loan in the first place. What say you about the political motive for this freeze. It certainly isn't because they CARE ABOUT AMERICANS!
It's a horrible idea to interfere with the business the way that the government is doing. Let the market handle it and punish those who screw up. It should be pretty simple. Even if the feds stop foreclosures temporarily, they're just delaying the inevitable. They're eventually going to get kicked out and I'm going to buy the house for pennies on the dollar! I've acquired five since the housing market crashed.....
The majority of foreclosed properties are being bought by foreign investors and that is not particularly comforting. The thing is, if entities like Bank of America who have finally acknowledged that foreclosure paperwork was suspect and in their haste to seize the properties they overlooked the law then how will they compensate those they threw out on the street and, illegally so. That is the whole problem with deregulation of the banking and investment industry as it allowed behemoths to be deemed to big too fail and basically, ignore the rules. Congress created the problem and now typically, they haven't a clue how to fix it but will find someone to blame. People like Barney Frank will still stand up and defend Freddie and Fannie for their role in the subprime debacle and we will hear no truth on this. The Dems have 28 days to find the people mistakenly tossed from their homes, 28 days to buy back the properties from those foreign investors and 28 days to ensure their "rules" are actually fair and implemented. I don't see that happening.
1. I would LOVE to see the link that you got your information from about "the majority of these bad loans were given to minorities". Because if you look at the numbers, that is the furthest from the truth. 2. The freeze on foreclosures is because the procedures of everything is called into question. I have a friend - a CAUCASIAN friend - that is going through that right now. She qualified for a loan modification and was approved for it. She did this 2 years ago. Suddenly she got a "Notice of Intent to Foreclose" after 2 years of making on time payments for over the amount that was requested. Why? Come to find out, the mortgage company LOST (yes - lost) her loan modification papers. She signed it, had it notarized, and sent it back to them minnesota THE PREPAID ENVELOPE PROVIDED BY THEM before the cut off date. But they can't find those papers. This has happened to numerous people that did loan modification. But in their computer systems, it is there that she applied and was approved for that loan modification, and that it was done. But no papers. I think before you try and make things a conspiracy, you actually look at the facts. And realize that not everything done is because of money and/or votes. Some things are done for protection of the people in this nation. I know this comes as a surprise to you, but it does happen from time to time.
What you call the national Debt is comparatively the as straight away as a 12 months funds DEFICIT. The debt is the whole of each and every of the as straight away as a 12 months deficits. It grow to be as straight away as $8-9 trillion in 2007 and it extremely isn't $14+ trillion - 50% greater advantageous than what it took greater useful than 225 years to acquire.
You're right as usual but what will they do, win or loose, after the election. Do you think that they have the intelligence to have thought of that? Those mortgages have to be paid by somebody.
You are partly right but it is to show that the government not the free market is in control, so a voter might want the government to help them but in doing so they will lose their freedom because in order to have the government in control means you are not.
Just another chunk of evidence proving that Government interference in free markets is a recipe for disaster, corruption, and injustice.
Yes. One must show their voter registration registration card in order to have their foreclosures frozen. If it said "Republican', then they will be evicted at once, regardless of skin color. I hope you are a troll.
Wait, we find out that banks are foreclosing on homes illegally and the moratorium is about the victims getting paid back for voting? I do not see anybody changing their vote for that. Look the banks have enough houses to try to get rid of any way.
Yeah there are government records showing that not a single CONSERVATIVE (FISCAL, GAY minnesota SOCIAL) can't afford their mortgage payments because all conservatives are billionaires and work on Wall Street = big supporters of the Republican Party