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Complete fabrication. Obama had in place a program to help struggling homeowners. It has failed miserably. Those long-term loan practices of giving mortgages to people who did not qualify, protected and nurtured by the democrats in congress through Fannie&Freddie.
Sorry, but you're the one spreading fabrications. CRA loans have been failing at a much lower rate than others. Further, most of the subprime loans were not made under CRA.
The economic crisis occurred because of the failure of the back-end derivative market - not because of a small uptick in foreclosure rates.
I know that wingnuts like to find ways to blame poor people - but in this case it's a lie.
This is something people either do not realise or choose not to discuss.
There are millions of bank owned homes that are NOT being put on the market and so skew the perception of how the market is.
The a couple of reasons. Mainly the banks are so innundated they just do not have the employee capacity to handle all of the paperwork. Remember the banks laid off alot of their workforce the last few years.
Secondly they do not want to depress the market further. If they flood the market Real Estate will collapse again. Instead they are taking the approach to strecth it out. One way or another prices will resume their fall.
The a couple of reasons. Mainly the banks are so innundated they just do not have the employee capacity to handle all of the paperwork. Remember the banks laid off alot of their workforce the last few years.
Secondly they do not want to depress the market further. If they flood the market Real Estate will collapse again. Instead they are taking the approach to strecth it out. One way or another prices will resume their fall.
I understand the reasoning of the banks(they are interested in protecting themselves naturally) but it leads some people to think things will be getting better soon...when that is not the case.
Another slam Obama thread, thinking they're being funny. I watched my dog pp on a fire plug this morning and freeze to it, which is funnier than the OP.
Not possible since global warming is turning the Earth into an uninhabitable fire ball.
Foreclosure filings -- including mortgage default notices, house auctions and home repossessions by banks -- were reported on 343,638 properties in September, down 4 percent from August, but up 29 percent from the year-earlier month, real estate data firm RealtyTrac said.
I understand the reasoning of the banks(they are interested in protecting themselves naturally) but it leads some people to think things will be getting better soon...when that is not the case.
well, the extension and expansion of the tax credit would help in clearing some of the inventory. But it will not be enough to have any price increases in the near future.
People do not understand how much wealth was lost in real estate the last 2 years.
well, the extension and expansion of the tax credit would help in clearing some of the inventory. But it will not be enough to have any price increases in the near future.
People do not understand how much wealth was lost in real estate the last 2 years.
i think its overstated &obama will help... u guys jus dont realize this is a natral market ocurance . and it happens every since 1930s
Let's see.... so far Mr President has... bought a dog..... went to Denmark.....bought GM.....
He's done absolutely nothing for our economy, and is not even trying. The only thing he cares about is that damn health care plan, which probably won't pass anyway.
If I had wasted an entire year at my own job like our president did I'd be looking for a job come review time.
Isn't that a greta accomplihment on Obama's side...staying on as the POTUS and not doing anything....well I think that he is doing something...whining about Fox News!
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