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Another wave of foreclosures is poised to strike

Posted in the Mortgage Forum

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Tempest

United States

the inquirer wrote:

<quoted text>
Can you shake that Magic 8 ball and find some solutions to this messed up country?

Naah. That's Obie's and Joey B.'s job. They won you know.

JimD

Bristow, VA

Judged:

YEs, the economy is a mess. No regulation caused a financial fiasco, less regulation gave us Madoff.

Obama is trying to improve several issues that we have kept putting off for a rainy day - this Social Security - bush did NOTHING. Medicare, Bush created a $15trillion liability without any additional funding.

Fix the mortgage mess - lower all fixed rates to 4.5%.

Grand Theft and Fraud

New York, NY

Judged:

JimD wrote:

YEs, the economy is a mess. No regulation caused a financial fiasco, less regulation gave us Madoff.

Thanks the likes of Phil "marble mouth" and Wendy "ENRON" Gramm.

do it

Glen Cove, NY

Commie Stooge wrote:

With unemployment nearing 10% and the alt-a mortgages about to reset; it was inevitable that foreclosures would increase.
The fact is, there are millions of people who bought homes with dodgy mortgages who couldn't afford them; believing they could refinance or flip them for a fast buck (thanks to all the real estate porn on cable TV).
If a person can't afford a house to begin with, the NO amount of reworking the loan will help.
First I'd take every housing show off cable TV; next I'd shoot every real estate broker; home builder; and mortgage person. Next up would be the rating firms on Wall Street; and the investment bankers who securitized the loans.
I'd have show trials on TV featuring the execs from Countrywide; Bear Stearns; and Lehman. Not to forget the National Association of Realtors.
Since the financial disaster began we haven't had a SINGLE exec from Wall St on TV to explain or apologize for what they've done.
Remarkable!

why do you have a problems with adults marketing financial products to adults? did they make you sign on the dotted line?

the real problem is what is getting marketed to the children. forget the next wave of foreclosures...that is inevitable. what we ALL should be concerned about is that next wave of LOSERS that we all call our FUTURE

do it

Glen Cove, NY

billp wrote:

Imagine getting a loan with no documentation or no money down. also no fixed rate of interest. This reads like a bad novel and yet it happened. Interest only loans too. What a nightmare. If you tried to beat the system with any of these, then you deserve to be foreclosed!

bingo

nassau Tax Slaves

Clayton, NC

part of the problem wrote:

Regarding the dump you robbed someone for 770. I'll bet you tried to get even more than that by trying to sell it without a realtor first.

Yes I did and almost got it ,was that you ,Who had to be south of merrick road to make there lives complete

OhWellSchitHappe ns

Bethpage, NY

billp wrote:

Imagine getting a loan with no documentation or no money down. also no fixed rate of interest. This reads like a bad novel and yet it happened. Interest only loans too. What a nightmare. If you tried to beat the system with any of these, then you deserve to be foreclosed!

That's it in a nutshell.

Telmark

Los Molinos, CA

billp wrote:

Imagine getting a loan with no documentation or no money down.

No documentation, no money down, and no common sense.

This is the perfect recipe for a disaster.

nassau Tax Slaves

Clayton, NC

Telmark wrote:

<quoted text>
No documentation, no money down, and no common sense.
This is the perfect recipe for a disaster.

Sold,Oh and sign this paper it allows us to resell your mortage to a company or another bank,Its called worry about it later system .The trouble is now is later,Hey is the a offical Yogi?

Big Moe 33

Wake Forest, NC

Judged:

nassau Tax Slaves wrote:

<quoted text>Yes I did and almost got it ,was that you ,Who had to be south of merrick road to make there lives complete

Please stop the migration from LI to NC. Tell your friends it sucks here and the people are all rednecks. Otherwise, in a few years, we'll be in the same shit hole we left.

Yeah well

New York, NY

Big Moe 33 wrote:

<quoted text> Please stop the migration from LI to NC. Tell your friends it sucks here and the people are all rednecks. Otherwise, in a few years, we'll be in the same **** hole we left.

Yeah, like Anywhere, Florida.

the inquirer

Patchogue, NY

Big Moe 33 wrote:

<quoted text> Please stop the migration from LI to NC. Tell your friends it sucks here and the people are all rednecks. Otherwise, in a few years, we'll be in the same **** hole we left.

I've noticed a wave of people moving to NC. Fortunately for you, many only get as far as Brooklyn.

nassau Tax Slaves

Clayton, NC

Big Moe 33 wrote:

<quoted text> Please stop the migration from LI to NC. Tell your friends it sucks here and the people are all rednecks. Otherwise, in a few years, we'll be in the same **** hole we left.

Its funny you say that because I tell were already full no room sorry you missed it go get those winter jackets you just threw out in the garbage

OhWellSchitHappe ns

Bethpage, NY

Bring on the foreclosures and have a party.

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