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Reload this Page More bad news about Detroit (foreclosures, mortgage, loans)
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Old 08-25-2007, 10:08 AM
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Join Date: Aug 2007
Location: Annapolis, MD
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gmc862000 is on a distinguished road
Default More bad news about Detroit
Just read Detroit ranks 2nd in the nation for home mortgage foreclosures. One out of every 29 loans ends in default. Double the rate of last year.

Without a tax base to draw on no city can survive. The poor have once again been taken advantage off.

The lenders knew they were making high risk loans. Now the federal government bails the banks and lenders out and Detroit is left with more abandoned homes.
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Old 08-25-2007, 03:00 PM
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Join Date: Aug 2007
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complexsimplicity will become famous soon enoughcomplexsimplicity will become famous soon enoughcomplexsimplicity will become famous soon enough
Cleveland is not to far behind Detroit, I think we are at #10.
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