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Old 07-12-2012, 06:44 PM
 
Location: Sacramento
13,784 posts, read 23,827,553 times
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This story is in today's KCBS website release, but I find it a bit odd since we are in July of 2012. However, I think they may be discussing the first 6 months of 2012, but anyhow:

SAN FRANCISCO (KCBS) – California had the highest foreclosure rate in the country in July, a stark reminder that people are still losing their homes in record numbers despite state and federal efforts to end the housing crisis...

Foreclosures in California have shot up 18 percent since June 2011.



California Foreclosure Rate Tops In Nation; San Leandro Family’s Struggle Typical « CBS San Francisco

Last edited by NewToCA; 07-12-2012 at 11:13 PM..
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Old 07-12-2012, 08:15 PM
 
2,311 posts, read 2,891,635 times
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Quote:
Originally Posted by NewToCA View Post
This story is in todays, KCBS website release, but I find it a bit odd since we are in July of 2012. However, I think they may be discussing the first 6 months of 2012, but anyhow:

SAN FRANCISCO (KCBS) – California had the highest foreclosure rate in the country in July, a stark reminder that people are still losing their homes in record numbers despite state and federal efforts to end the housing crisis...

Foreclosures in California have shot up 18 percent since June 2011.



California Foreclosure Rate Tops In Nation; San Leandro Family’s Struggle Typical « CBS San Francisco
The banks have been delaying foreclosures for years.. They are finally handling the backlog. Californian's as much as they like rant about how amazing they are ... are the most indebted in the U.S of all states. It is also the state w/ the most exotic loans (ARM/etc) as no one here, as much as they say how amazing it is, can afford traditional 30 year mortgages ..

California .. 3rd highest unemployment rate.... top 5 states w/ highest taxes... most indebted at the personal and state govt. level and hitting the highest foreclosure rate.. 3 cities that have declared bankruptcy in the past 2-3 weeks. The nation's largest share of welfare recipients .. $300+ billion of debt (not counting the ~ trillion in unfunded pension obligations)....

The chickens are coming home to roast.
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Old 07-12-2012, 09:18 PM
 
7,150 posts, read 8,814,043 times
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Here's a related story ... unscrupulous hooligan lenders at Wells Fargo Bank in this case ... caught preying on the lower income and minorities in So. California ... well educated in their business opportunities and responsibilities ... already wealthy as hell ... using their position of professional trust to pull the wool over their clients' eyes to steer them into bad loans ... bank-wide management aware of the practices ... now paying a $175 million dollar fine:

Wells Fargo to pay $175 million to settle lending bias allegations - latimes.com
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Old 07-12-2012, 09:34 PM
 
Location: Bay Area
1,514 posts, read 2,264,094 times
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i'd like to know what they mean by despite federal and state efforts. i saw the new law passed that said they cannot foreclose while simultaneously negotiating a refinance. would love to see that here in oregon. but in my neck of the woods we seem to be holding our own in the foreclosure arena (meaning lots of them everywhere).
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Old 07-12-2012, 11:10 PM
 
2,311 posts, read 2,891,635 times
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Originally Posted by nullgeo View Post
Here's a related story ... unscrupulous hooligan lenders at Wells Fargo Bank in this case ... caught preying on the lower income and minorities in So. California ... well educated in their business opportunities and responsibilities ... already wealthy as hell ... using their position of professional trust to pull the wool over their clients' eyes to steer them into bad loans ... bank-wide management aware of the practices ... now paying a $175 million dollar fine:

Wells Fargo to pay $175 million to settle lending bias allegations - latimes.com
Only a fool can be fooled. Foolery has a hefty price in life.
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Old 07-12-2012, 11:18 PM
 
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Originally Posted by yeahthatguy View Post
Only a fool can be fooled. Foolery has a hefty price in life.
Really?
If you had a medical concern and went to your doctor and he told you to take a prescription he would write ... would you go have it filled? Especially if it was for something common going around and in the news ... and the news reported that doctors were prescribing the same pill?

Foolery has a hefty price ... and so does arrogance toward your fellow man and nature.
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Old 07-13-2012, 10:07 AM
 
47,573 posts, read 60,701,947 times
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Originally Posted by nullgeo View Post
Really?
If you had a medical concern and went to your doctor and he told you to take a prescription he would write ... would you go have it filled? Especially if it was for something common going around and in the news ... and the news reported that doctors were prescribing the same pill?

Foolery has a hefty price ... and so does arrogance toward your fellow man and nature.
I wouldn't. I'd research myself about my medical concern and figure out if I even needed a pill and I'd check out the PDR to see what the pill was all about -- and then I'd probably for sure not get the prescription filled.

No one forces anyone to sign for a mortgage that they cannot afford. If a deal sounds too good to be true, most likely it was.
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Old 07-13-2012, 10:15 AM
 
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Not to worry, Florida is not far behind.

Florida foreclosures rise in first half of 2012 | The Florida Current
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Old 07-13-2012, 10:41 AM
 
Location: Bay Area
1,514 posts, read 2,264,094 times
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Originally Posted by malamute View Post
No one forces anyone to sign for a mortgage that they cannot afford. If a deal sounds too good to be true, most likely it was.
i could pick 10 people near me here that have been foreclosed. and not one of them ended up there because they bought a house they couldn't afford.
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Old 07-13-2012, 10:47 AM
 
7,150 posts, read 8,814,043 times
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Quote:
Originally Posted by malamute View Post
I wouldn't. I'd research myself about my medical concern and figure out if I even needed a pill and I'd check out the PDR to see what the pill was all about -- and then I'd probably for sure not get the prescription filled.

No one forces anyone to sign for a mortgage that they cannot afford. If a deal sounds too good to be true, most likely it was.
Oh? Like you "research" all those false claims you rant about here on CD ... about illegals coming here to have anchor babies, and the huge welfare community that lives high on the hog on your welfare dollars? (Except that none of your claims are true ... have been proven false ... and you continue to spew them). Like that kind of in-depth research? Sure you would.

Quote:
Originally Posted by 5thgenSF View Post
i could pick 10 people near me here that have been foreclosed. and not one of them ended up there because they bought a house they couldn't afford.
You noticed
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