Credit Suisse Predicts a Whopping 8.1 million Foreclosures »
Posted By altnrg 10 months, 2 weeks ago in NewsAccording to Credit Suisse’s recent study, the loan current problems, increasing unemployment and economic recession may contribute to more than 8 million mortgages ending-up in foreclosure.
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jaylun10 months, 2 weeks ago
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As the credit crisis in the US has sharpened, many banks that provided loans have made it more difficult to get a loan, raised interest rates, or back out of making loans all together. If you are interested in learning more about the student loan situation, you can read about it at the provided in Resources, http://www.abcloan.info
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4thchance10 months, 2 weeks ago
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What gets me is that the banks won't even tell us what they did with all that bailout money, let alone do what they were suppose to do with it? I can't help but to think, there's something going on with all this that we are NOT being told!?
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GrayReb10 months, 2 weeks ago
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HELLO, OUT THERE! Are you listening? It took 2 years for you, Pres. Bush to finally admit and to actually vocalize the news that we were in a recession, long after your constituents were "feeling" the crunch that started out with obscenely high gas prices.
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Now, you, along with the media are, once again, denying the truth...we're in a "just around the corner DEPRESSION". When will you fess up...when the soup lines are so long, there's no end in sight? Many of us have already lost our homes; more of us have lost our jobs, and scores of us have lost our money with the added burden of the bailout funds paid by us, the taxpayers.
As you ride off into the sunset, don't let the barn door kick you in the butt. Maybe your blacksmith will end up throwing horseshoes. Ouch! -
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boots72_Comment removed: Hard Banned
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michaellecanto10 months, 2 weeks ago
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I know everything is going very badly, but through all this I have not heard anyone period say buy products made in the USA.
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I realize this may sound simple minded,just give it some thought and you will see the forest through the trees. -
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vidpok45010 months, 2 weeks ago
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Bush and the oil barons who control the country and put Bush into office could care less about how many people end up in the streets. They have achieved what they set out for, an inevitable outcome of the structure of corporate America designed to establish a superwealthy elite group. These folks are so far removed from the everyday struggles of the average American, just as the average American cannot relate to the life of someone in the poorer African countries. It remains to be seen to what extent Obama is able to repair the years of neglect and damage which may have forever altered the American dream which most of us had hoped for. It is a very sad time indeed and best wishes for all those who are suffering so deeply because of George W Bush's terrible presidency.
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texaspilot210 months, 2 weeks ago
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c'mon guys....when are we all going to accept responsibility for our own actions? we are a microwave- i want it now- society....we sign variable rate interest mortgages...we charge groceries on our credit cards...pleeeeese....dont blame the Government for our mistakes...the Govt doesnt manufacture anything- it doesnt produce anything....we do! if americans collectively stopped buying foreign cars Detroit would be ok, if we stopped charging, cut our alcohol, cigarette and fast food expenditures.....we would all have more money. I hate the current political situation.....did you ever see a republican or a democrat take a cut in pay? to help? why dont they live on the same social security system we do?...im a truck driver for 20 years...i have bought and paid for 17 brick homes...i live off the rents and still work.....i dont charge...i dont smoek or drink or eat at fast food joints and i dont have a college education.....it all stems from self discipline....not what the president does......
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4thchance10 months, 2 weeks ago
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I don't get what the banks will do with millions and millions of homes they foreclose on.
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Sure, they can re-sell many or most of them, but seems it would eventually come to the point that the banks have a sh*t pot load of empty homes that just sit there month after month, and maybe even year after year. Seems that does NO ONE any good? What the hell will they do with them all? -
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mxoverdriv10 months, 2 weeks ago
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Sorry folks, but President Bush and other Republicans tried to put a stop to the bad lending laws that originated before Bush took office...the Democrats refused to admit there was a problem, much less allow anyone to address the problem! Go to UTube and watch the Senate in action on this matter!
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BTW, when banks start loaning again these homes will be snapped up by investors and rented out. Those who lost their homes can rent apartments which are more within their financial means.-
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mxoverdriv10 months, 2 weeks ago
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Outragious gas prices, which were caused by our lawmakers forbidding us to drill for our OWN oil, started this whole mess rolling downhill! When gas prices went up so fast, many refused to adjust their life style to their lower income...everything went on charge cards. Those cards were maxed out and paid off by taking out second or third home mortages at very high interest rates...then charged to the hilt again. People paid their credit card bills both because they STILL didn't want to stop living beyond their means and because they needed gas to get to work and food to eat, so their mortage payments were the last thing they paid. I actually have a neighbor who is three months behind on his mortage payment, but I saw them carrying in a HUGE big screen television the week before Christmas. No bailout in the world it going to help these people get their life under control and those of us who make good decisions shouldn't be asked to even try!
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texaspilot210 months, 2 weeks ago
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9 critters......simlification is what we all need to do.....ill bet you if we looked at your budget we could trim some fat off of it.....add you cell phone bills and your cable bill...and add every single time you ate at a restaurant in the last 6 months.....add all that up and see if i dont make sense.....we have to suffer i guess for a while to save and elevate us into a position where the economy cant hurt us as quickly....you are at the end of a whip and taking a beating...by your own choice no? i dont mean to be mean..but had you gone into the military and usewd the GI bill to educate your self into the medical field lets say....not a doctor ...but a nurse, or X-ray tech....or some other field...you woulod not be in your situation now right? im not criticizing your choices....im saying years ago you could have done something different....im only a truck driver...and i did it....i must have done something right no? i make 8500 a month without my paycheck from work....so how wrong am i? i actually wish i had gone to law school...like my folks wanted...but my choice worked for me....
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texaspilot210 months, 2 weeks ago
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i just want the government to stop trying to tax the hell out of guys like me for people who made bad choices....thats not my fault and i should not have to pay one cent for some person who dropped out of school and bought a variable interest mortgage and now cant pay for it...right? anyone agree? a falt tax is the only truly fair system of taxation....i have a question....why should a rich man pay more than a poor man...in taxes? now think about that for a moment...has he done something wrong? if a can afford a big turkey for dinner should the government be able to take part of my food/money/assets/ because it wants to? whats the moral justification to make one man pay more than another?
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