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Sun Nov 25, 2012, 11:54 AM

 

Why the Foreclosure Crisis is Getting Worse

Occupy Wall Street ‏@OccupyWallStNYC

We fight back! RT @foreclosureg8: ***Why the Foreclosure Crisis is Getting Worse***
http://bit.ly/10n2LKQ

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Reply Why the Foreclosure Crisis is Getting Worse (Original post)
Fire Walk With Me Nov 2012 OP
hedda_foil Nov 2012 #1
AnotherMcIntosh Nov 2012 #2
Fire Walk With Me Nov 2012 #3

Response to Fire Walk With Me (Original post)

Sun Nov 25, 2012, 12:25 PM

1. I had to click through several sites to get to the artcle here:

It's from US News.

http://money.usnews.com/money/blogs/my-money/2012/10/22/worried-about-your-home-why-the-foreclosure-crisis-is-getting-worse




Although the housing market is showing signs of recovery, other indicators show the foreclosure crisis is getting worse. In a September interview with U.S. News, Austan Goolsbee, the former chairman of the Council of Economic Advisers, said, "I think there's a lot wrong in the housing market. If Fannie and Freddie would start enabling people to rent out the vacant homes, that would also help."

Some foreclosure facts:

The mortgage loans which are currently under the foreclosure process, is amounting to almost $45 billion (that is mainly in terms with negative equity)

More than almost 12 million homeowners are currently considered to be underwater, who are still making payments

There are more than 1.5 million of the homeowners, who are at least 50 years or even older and may have lost the home to foreclosure, since the year 2007, when the mortgage crisis actually began.



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Response to Fire Walk With Me (Original post)

Sun Nov 25, 2012, 12:42 PM

2. If signing let's-send-jobs-to-foreign-countries "free-trade" agreements help, there will be relief

 

for the mortgage crisis after President Obama has finished his tour in the Far East and signs the TPP.

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Response to AnotherMcIntosh (Reply #2)

Sun Nov 25, 2012, 07:02 PM

3. From all I've heard, the TPP is a horrible thing not even being brought up for discussion

 

amongst the peoples of the nations involved due to its hidden evils.

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