Lender Processing Services just put out its "Mortgage Monitor Report," and we have a new record:
The nation's foreclosure inventories reached record highs. February's foreclosure rate of 3.31 percent represented a 51.1 percent year-over-year increase. The percentage of new problem loans also remains at a five-year high. The total number of non-current first-lien mortgages and REO properties is now more than 7.9 million loans. Furthermore, the percentage of new problem loans is also at its highest level in five years. More than 1.1 million loans that were current at the beginning of January 2010 were already at least 30 days delinquent or in foreclosure by February 2010 month-end.
Okay, so 7.9 million Americans are not paying their mortgages.
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Repres Foreclosed Home |
Are we really thinking about the implications of that?
I've already reported studies that show Americans are now far more likely to pay their other bills first before their mortgage (which is a big turnaround historically speaking.)
That means they pay off their credit cards, cable bills, car loans in place of their home loans. Some are forced to, while others are doing so strategically. Don't get me started again on strategic defaults...
Hey EA, she's a bit of a nutjob but has a weird way of tying interesting news tidbits together.
ReplyDeleteLook at this article and tell us what you think:
http://www.whatdoesitmean.com/index1362.htm
ps. it's more than likely that 'she' is actually part of a CIA mind ops campaign.
Looks to me like the American people have declared war on the financial terrorist bankers...
ReplyDeleteNoooo... You think ?
LOL!
The scenario mentioned, not paying the mortgage but buying thousands in retail, paying the tanning salon etc. reminds me of most of my sheeple or "tv" friends and family who have no clue. Purchasing new designer label clothes trumps say, buying storable food, buying gold and silver or even saving money (a worthless idea since the interest rate is practically 0 & debt notes will soon be worthless).
ReplyDeleteThis is how the dumbed down idiotic mind controlled tv addicted sheeple think. The sheeple believe anything their tv's tell them.
Nevermind paying the mortgage, or rent.
Truth is, we are so screwed, and the sheeple will never get it.
Yep, real terrorists don't wear Turbans they wear $3k Wall St Banker suits.
ReplyDeleteHmmm just saw video from the early 80's from an ex-KGB agent explaining how to break down a society in 4 steps...Which basically fits some of the people in the article and people we know who are not paying their mortgages.
ReplyDeleteBasically they have become gluttons and so addicted to easy credit that they can't stop...They have forgot how to think and sacrifice...They think because they are no longer trading in their car every 2-3 years that they are sacrificing or only taking 1 vacation that that means they are trying...Etc etc.
Then as soon as they started saving and paying things off they returned to their bad habits...Like a heroin addict...Being good a month and then relapsing.
How do I know?...Because I was like that also...I have no excuses but I grew out of it...So many Americans DON'T care or want to change...Hence when shit happens I say?
Let it burn...Too many grasshoppers playing while a few ants prep for the winter.
thanks 917
ReplyDeletejust picked up a virus at that website
first time ever got a virus from visiting a website
beware
oh yea thanks asshole
just make shore your anti virus software is running befor you go here
3:34 got the virus due to the fact he can't spell or construct a simple sentence. This triggered the virus in the hopes that he/she learns to read and write
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