A Million Homes Lost to Foreclosure Last Year

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Hilarious, just hilarious.I often hear ignorant people whine about how dangerous it is to retire in Central America (or other inexpensive living destinations). A million families had their homes confiscated by some imperialist bank. Oh, sorry, I forgot that we're supposed to couch the truth in less precise terms. How about: "The rightful owners of these distressed properties were finally able to reclaim them from those low-life unemployed workers." Better?

CommieTommy of NY 1:09PM February 08, 2009

All the news stories report the percentage of increase in foreclosures - and so many people are left with the impression that 30 - 40 - 50% etc of homes are in foreclosure. Why not tell the story that despite the bad economy, that over 90% of home are NOT in foreclosure. I believe that this misleading reporting has created a false expectation of bargain sale house prices - and the buyers are waiting for that bargain sale price - and the seller is holding our for a fair price.

edie of NJ 11:20PM January 28, 2009

Lynne,
The simple answer is the world is not set up for people who pay on time, do what they are supposed to do when they say they will do it. The breaks are always given to those that are perceived to need the breaks, not to those who deserve it

Rich of OR 4:57PM January 14, 2009

The answer, Lynne, is you SHOULD receive a break on interest. All or none.

of 3:26PM January 14, 2009

I am amazed at how many homes are in forclosure. I heard on the news the other day that the federal government is pushing the banks to lower interest rates on mortgages in jeopardy to 4.5%. This is all well and good but lets face it, many of these homes were sold to people who could not afford them, and they were well aware that they could not afford them. Blame it on the mortgage brokers but the buyers are also respnsible. Now as far as lowing interst rates to 4.5%, what about the millions of people who pay their mortgages on time every month. Why are we being left out? My interest rate is 5.875% and I pay my mortgage every month on time. Why can't I receive a reduction?.

Lynne of NY 2:54PM January 14, 2009