Owners of 303,879 properties, or one in 416 U.S. households, got a default notice, were warned of a pending auction or foreclosed on last month.
…………………………..
That is slightly less than 1/4th of one percent!!
That would be a yearly average of less than 3%.Most of these loans should not have been given out in the first place.
If only 2% of the mortgages are being foreclosed on, and those are folks who couldn’t afford the bloomin’ loans to begin with, then why the blazes is everyone…in the media and Congress….panicking? The only regular folks who are freakin’ out are the ones who are watching the media freak out, and don’t have an obsession to find out the facts. sigh….
If they do not use all of their fingers, it is not a salute either!
@Gary Kayser:
Well, it’s a sort of salute! LOL
Bail out is to help those with foreclosure problems.
Congress-critters get a lot of money from Wallstreet,who are they trying to fool?
http://www.bloomberg.com/apps/news?pid=20601103&sid=aWKdjgdwQZQI&refer=us
Sept. 12 (Bloomberg)
Owners of 303,879 properties, or one in 416 U.S. households, got a default notice, were warned of a pending auction or foreclosed on last month.
…………………………..
That is slightly less than 1/4th of one percent!!
That would be a yearly average of less than 3%.Most of these loans should not have been given out in the first place.
This is not a big severe problem!!
@Gary Kayser:
If only 2% of the mortgages are being foreclosed on, and those are folks who couldn’t afford the bloomin’ loans to begin with, then why the blazes is everyone…in the media and Congress….panicking? The only regular folks who are freakin’ out are the ones who are watching the media freak out, and don’t have an obsession to find out the facts. sigh….
Oh, screwy link.