One in 10 With a Mortgage Face Forclosure

[lame54]

http://www.michaelmoore.com/words/latest-news/one-10-mortgage-face-foreclosure

More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.
The number of Americans missing payments and falling into foreclosure has followed the upward trend in unemployment, which has been near double digits all year and has shown no sign of dropping soon.
"Ultimately the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story," Jay Brinkmann, the trade group's top economist, said in a statement. "Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers."...

...Besides forcing people from their homes, foreclosures and distressed home sales have pushed down on home values and crippled the broader housing industry. They have made it difficult for homebuilders to compete with the depressed prices and discouraged potential sellers from putting their homes on the market.

[Freetradesucks]

1. Fuck the bailouts for Wall St

Let's help out the people that really need it. It's a crime how much we gave those assholes.

[KILL THE WISE ONE]

2. if we would have bailed out the home owners, it would have saved the banks

but we bailed out the banks and the banks said fuck the home owners...

[Raster]

3. YES! We could have helped out the homeowners AND the banks... but NO!

"WE" decided to only help the banks and throw the homeowners to the wolves, which, incidentally, are waiting to foreclose and repossess the homes. Spot the trend?

[lame54]

4. aGREED