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Foreclosures: 'Worst three months of all time'
Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.
"They were the worst three months of all time," said Rick Sharga, spokesman for RealtyTrac, an online marketer of foreclosed homes.
During that time, 937,840 homes received a foreclosure letter -- whether More..
Added: Oct 16 2009 In: news_politics
Recorded on: Oct 15 2009By: freedomplow 
- Tags:
- Foreclosures,
- homes,
- Obama,
- failed,
- Views: 1022 |
- Votes: 0 |
- Recommendations: 1 |
- Comments: 11
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Comments - sort by newest to oldest
Let's not forget $1.2 trillion in adjustable rate mortgages which are due to reset come April of 2010. Someone tell the nation to gird her loins.
Posted Oct-16-2009 by "knowyourlimit" (R)
People bought things that they could not afford.
There are not enough nuts to go around(acorn)to 'fix' those shortsighted financial dealings(ignorant spending habits).
Posted Oct-16-2009 by "carlh1958" (R)
sad
Posted Oct-16-2009 by "roberto932" (R)
Lender-supported? WTF does that mean? They'll take their bailout package and bank it, earnin interest, and then foreclose on the house any way.
Posted Oct-16-2009 by "itbeeasierifyourdead" (R)
Just thinning out the herd.
Posted Oct-16-2009 by "Neinkenheimer" (R)
Fix the banking regulations and this won't be a problem in the future.
Posted Oct-16-2009 by "Punch_The_Monkey" (R)
The recovery has stalled and now it's getting worse in So Cal. Small businesses don't have enough sales to continue much longer. It's sad.
You used to be able to run to Arizona or Idaho to start over but I think that won't work anymore. It's funny that everything you knew as a sure doesn't work anymore. Your given a problem that seems to not have any solutions.
Posted Oct-16-2009 by "buttkracken" (R)
This winter should be a perfect time to buy a new home....
Posted Oct-16-2009 by "dankmofo" (R)
How is that HOPE and CHANGE working out for you???
Posted Oct-16-2009 by "555chevy" (R)
The bottom line is that these people bought things that they couldn't afford. The more intelligent ones will find a cheap place, start living within their means and get back on their feet. The less intelligent ones will continue to borrow money and end up on the street. Survival of the fittest.
Posted Oct-17-2009 by "J-Un1t" (R)