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Foreclosure Deal to Spur U.S. Home Seizures

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posted on Feb, 9 2012 @ 11:00 PM
Here's a new twist in the foreclosure deal.

An economist is saying the deal may make a long-term housing recovery more likely, but at the same time might create more home siezures because of the backlog of foreclosures. !!!!!

The Banks created the backlog and now they get a greener light to foreclose faster !!!!

The whole thing is a catch-22 from the beginning.

The $25 billion settlement with banks over foreclosure abuses may trigger a wave of home seizures, inflicting short-term pain on delinquent U.S. borrowers while making a long-term housing recovery more likely.

Lenders slowed the pace of foreclosures as they negotiated with attorneys general in all 50 states for more than a year over allegations of faulty and fraudulent paperwork used to repossess homes. With today’s agreement, banks are likely to resume property seizures.

“The best thing about the settlement, frankly, is that it will be done,” said Stan Humphries, chief economist for Seattle-based Zillow Inc. (Z), a provider of home-sales data. “The shadow of the settlement hung over the market for a year now.”

see the article for "details"
Excluding 92 Percent

Related Threads

I Don't Get IT !!!

Such A Deal They Say !!

edit on Feb-09-2012 by xuenchen because:

posted on Feb, 9 2012 @ 11:43 PM
The whole scenario needs better answers than the typical bandaids these goofs want to slap on this mortal wound.
The very Idea that corporate ownership be allowed to snap these properties up in BULK.....must be opposed.
Why they didnt make it easier for human beings to buy a home, rather than put the ownwership into corporate hands...
is pretty obvious considering the vast octopus of corporate ownership is merely another form of slave control.
They seek to profit from the human misery, and end up owners of large portions of city property that eventually will be turned into commercial or high rise blocks....And values will skyrocket...
These swine are seeding the fortunes of the next generation of robber barons who will prey on humanity..
Their own children!

posted on Feb, 10 2012 @ 03:58 PM
I'm just giving this a bump.
It seems that we get more conflicting information as the months go on. I can't believe more people aren't raising hell over this. When is the insanity going to end? Why don't they simply restructure everyone's mortgage across the board to reflect the actual values and give them a break on the interest for a couple of years? There are enough horror stories about people purchasing foreclosures only to not be able to move into them because of the banks' fraudulent business practices. How are home buyers going to gain faith in the system again? Are we moving towards renting from the government while the wealthy are the only ones who own homes?
Just disgusting any way you look at it.

posted on Feb, 10 2012 @ 04:16 PM
There could be a bigger agenda also.

The U.N. has been writing crazy ideas.

Private ownership of land is not compatible with socialism, communism, or with global governance as described by the United Nations. Stalin, Hitler, Castro, Mao - all took steps to forcefully nationalize the land as an essential first step toward controlling their citizens. The UN, without the use of military force, is attempting to achieve the same result.

The land policy of the United Nations was first officially articulated at the United Nations Conference on Human Settlements (Habitat I), held in Vancouver, May 31 - June 11, 1976. Agenda Item 10 of the Conference Report sets forth the UN's official policy on land. The Preamble says:

"Land...cannot be treated as an ordinary asset, controlled by individuals and subject to the pressures and inefficiencies of the market. Private land ownership is also a principal instrument of accumulation and concentration of wealth and therefore contributes to social injustice; if unchecked, it may become a major obstacle in the planning and implementation of development schemes. The provision of decent dwellings and healthy conditions for the people can only be achieved if land is used in the interests of society as a whole. Public control of land use is therefore indispensable...."

The UN and property rights


US House Puts Oceans, Coasts Under UN: Senate Vote will Seal the Deal

If this agenda is at work, we will never ever see a clear solution to the current problems

posted on Feb, 10 2012 @ 05:03 PM
reply to post by xuenchen

You know, the information you posted sounds a lot like how the church changed the rules for priests long ago. They felt they were getting the short end of the stick since priests were leaving property to their wives and children, so they simply wrote the law so the priests couldn't marry and the property would then go to the church. Greed at its finest. It seems that property ownership isn't good for anyone in the eyes of the church or governments.

edit on 10-2-2012 by Afterthought because: (no reason given)

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