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Massive Wave of foreclosures coming

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posted on Apr, 12 2009 @ 10:47 AM
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Like your unemployment coming to a end, measures that had started

6 months ago to stop foreclosures are coming to an end, Unless the

Gov intervenes again , foreclosures are expected to go up 20-25%

declineandfallofwesterncivilization.blogspot.com...




posted on Apr, 12 2009 @ 11:05 AM
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OK with me. Let the foreclosures come. Greedy homeowners are as bad as the bankers.



posted on Apr, 12 2009 @ 11:09 AM
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reply to post by Make Speed Limit 45
 


Invite them to your home, make them dinner, teach them the meaning of generosity, rather than greed. Show them you are the expert on knowing the difference. That'll teach those greedy fools. Don't you think?




posted on Apr, 12 2009 @ 11:12 AM
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reply to post by Make Speed Limit 45
 


It seems your main intention in the majority of your posts is to show your hatred of others and to start arguments.



posted on Apr, 12 2009 @ 11:14 AM
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reply to post by spacedoubt
 


Thats kinda how I see it too. If your in the housing market and the "experts"

tell you houses are safe and increase in value 4-5% a year, and you need

a home. You then bite the bullet and buy, for if you don't , they will just

increase more and more. And you will be left without a home. It is Not greedy

homeowners, (can that even happen?) that did this to the market. They are

more of the Victims than anyone in this downturn



posted on Apr, 12 2009 @ 11:15 AM
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reply to post by Make Speed Limit 45
 


Ok, I am lost with your post..... please help me out here...... it seems you have made the comparison of homeowners being the same as banks.....

So, forgive my complete confusion to what you meant.

I personally would love to help everyone of those people understand the "show me the note". I tried it, problem was my bank happened to have the note.... OH Well, As far as I am concerned all the banks have gotten all the money for every mortgage out there from the govt. already.

So I say, Stop all foreclosures! All of us, will be paying anyway in taxes for the banks to get all the money. So let us pay in taxes instead of mortgages, because right now we have both!

F... the banks - stand behind all homeowners.

I hate injustice!! I really really do!!

When I see people about to get foreclosed on, online.... I send them information about getting out of it, via email, even though I don't know them.



posted on Apr, 12 2009 @ 11:17 AM
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So now it's greedy to want to own a home to live in? Wow.



posted on Apr, 12 2009 @ 11:19 AM
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reply to post by questioningall
 


Star for you. Even though you got screwed your doing your best to continue to help others. It is this mindset that will help us get through. No doubt makespeedlimit45 will post back about how people like you are creating the problem though. Get ready.



posted on Apr, 12 2009 @ 11:19 AM
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reply to post by Seany
 


your right for the wrong reason... the next wave will be from "Alt-A'' and "Option-Adjustable Rate Mortgage'' those loans are resetting as we speak. and I know more than one home owner who's talking about just letting banks take them back. this is an ever larger segment than the sub prime loans were millions more homes flooding the markets and even at fire sale prices investors are running out of money to keep buying all these places up...



posted on Apr, 12 2009 @ 11:40 AM
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reply to post by DaddyBare
 


Are you meaning Variable rate mortgages ?

Prolly the same thing under a different name



posted on Apr, 12 2009 @ 11:49 AM
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Originally posted by Seany
reply to post by DaddyBare
 


Are you meaning Variable rate mortgages ?

Prolly the same thing under a different name


Not really go read this storyNext Wave New York Times



posted on Apr, 12 2009 @ 11:57 AM
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reply to post by DaddyBare
 


ok, i read your link, cleared it up,

people were payin interest only loans , and now with principal starting to

kick in , the payments will go up hugely, of course if your payin more than

your house is worth, your BoB looks appealing



posted on Apr, 12 2009 @ 12:07 PM
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reply to post by Seany
 


Sub prime was just the tip of the iceberg now were seeing prime loans default. right now in the southeastern states builder loans are coming up at auction I just looked at one in NC... An unfinished Million dollar Mac mansion that will most likely sell for under a hundred grand. I didn't make a bid because it also comes with 14,000 + due in back taxes and another 2,000 a month in HOA's... not every auctioned home is a bargain ya know



posted on Apr, 12 2009 @ 07:21 PM
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Originally posted by DaddyBare
reply to post by Seany
 


Sub prime was just the tip of the iceberg now were seeing prime loans default. right now in the southeastern states builder loans are coming up at auction I just looked at one in NC... An unfinished Million dollar Mac mansion that will most likely sell for under a hundred grand. I didn't make a bid because it also comes with 14,000 + due in back taxes and another 2,000 a month in HOA's... not every auctioned home is a bargain ya know


the fact that you are in the boat that can even consider making a offer

is a sign o,,,,



posted on Apr, 12 2009 @ 07:52 PM
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Originally posted by Seany

the fact that you are in the boat that can even consider making a offer

is a sign o,,,,


You bet your butt its a sign... A sign that I'm a smart old guy who's looking for a small out of the way farm and I'm willing to dip into my meager retirement money and pay it off in cash so I owe no one anything


[edit on 12-4-2009 by DaddyBare]



posted on Apr, 12 2009 @ 08:38 PM
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If the banks didnt offer these crazy interest only and 90/10/10 and 0% down and other exotic loans we wouldnt have a foreclosure problem. By offering these loans they artificially inflated home prices creating the boom. Unfortunately alot of people were suckered into the "home prices will never go down" scenario. Homebuyers desperately snapped up homes, sometimes paying more than asking price to get into a home before it increased in price the next month.



posted on Apr, 12 2009 @ 08:48 PM
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reply to post by Make Speed Limit 45
 



That's just very, very deep. Thank You.


How bout u make me a sanguich.....and sit down.



posted on Apr, 12 2009 @ 09:21 PM
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When all is said and done, Those cosumed by greed will be naked, homeless, and hungry, and be faced with the truth of their utter self deceit.
It is sad.
Currently, they are legally insane. I predict they will crack...and after, well, let's wait and see if that happens first.

On a more secular note...They are in the minority and our history has consistantly shown how communities come together in a crisis. Another thing I have noticed that when all is retored...it's better than before. Katrina's destruction is taking the longest to recover I think.

[edit on 12-4-2009 by assasinforfather]

[edit on 12-4-2009 by assasinforfather]



posted on Apr, 12 2009 @ 11:21 PM
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Originally posted by questioningall
reply to post by Make Speed Limit 45
 


Ok, I am lost with your post..... please help me out here...... it seems you have made the comparison of homeowners being the same as banks.....

So, forgive my complete confusion to what you meant.

I personally would love to help everyone of those people understand the "show me the note". I tried it, problem was my bank happened to have the note.... OH Well, As far as I am concerned all the banks have gotten all the money for every mortgage out there from the govt. already.

So I say, Stop all foreclosures! All of us, will be paying anyway in taxes for the banks to get all the money. So let us pay in taxes instead of mortgages, because right now we have both!

F... the banks - stand behind all homeowners.

I hate injustice!! I really really do!!

When I see people about to get foreclosed on, online.... I send them information about getting out of it, via email, even though I don't know them.



I think the banks have gotten wise to this maneuver and are generating notes on their copiers because the average person has no way of knowing if the note they are shown is genuine or not.



posted on Apr, 12 2009 @ 11:44 PM
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I tried the "show me the note" thing, last month, even though I am not getting foreclosed on or anything. I wanted to take a proactive step and see if it worked. For me it didn't, but who knows, I think every single mortgaged homeowner who is paying their mortgage should ask for it. If they don't get it, then stop paying until it is provided, and there isn't anything the bank can do.



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