Upcoming Foreclosures

Buy a home for $300 via Government foreclosure house sales...Is it for real? I have just seen a TV commercial about government tax foreclosure house sales. They were claiming that you can buy homes all across the US for as cheap as $300 or less. Is this for real? There must be a catch does anyone know? However If there isnt a catch how do i get started.

Should the government put a moratorium on house foreclosures? I received an email petition today about freezing foreclosures. I did not sign the petition. I am all for people not ending up on the streets but I don't understand how they expect this to work. Why would anyone pay if they could not be evicted? Are we going to give these people their houses and make the taxpayers eat the loss? For the record I know the mortgage industry is as much to blame as the buyers. Banking should never have been deregulated to allow all the idiotic loan scams and no down payment home purchasing that went on. That being said... Houses are still overpriced and the market needs correction. Maybe they could freeze interest rates. If your house has been on the market for 6 months and has not sold you are asking too much for it. Home owners need to wake up to the bitter reality that the real estate bubble has burst. If anyone can explain how freezing foreclosures can work I would like to hear it.

Do those ads about government foreclosures really work out for anyone? You know the ones that seem to promise cheap houses? Do people ever really get houses when they respond to those ads, or do they only receive some kind of pay-for-mail book that tells you how to get the house...?

Aren't most foreclosures those of expensive houses? Why should the government be buying expensive houses? Why should our government be bailing out the builders and mortgage investors who built these mansions? What about the rest of us who did not buy more than we could afford? Where is our reward?

Should the government be bailing out the housing industry, foreclosures, etc.? What financial deregulation created these problems? Wasn't it done during both the Clinton and Bush Administration? What is happening with mortgage cram-downs?

how do i get a government grant to help save my house from foreclosure?

Can you use government grants on a house in foreclosure? My boyfriend and I want to buy our first home and know that there are a few programs out there that will help us out with the closing costs or a better interest rate. We also know there are programs available from the government, as well as our state, that offer free grant money for homes. But would we be eligible for these incentives if we want to purchase a house that currently is in foreclosure/pre-forclousure? We live in Florida if that helps . . . Also, would we look for asisitance in the county we live in or the county we plan to moving to? Thanks!

Should the government bail people out on foreclosure? I have been paying for my house and several people on the block are going into foreclosure. I feel for them, but I don't think it is right that any president should give handouts for people to keep their house. If that is the case, I want a "government rebate" on my house so I can buy another house. Government handouts for people to save their house is what one candidate is running on. Something smells wrong.

foreclosure! i'm about to loose my house and i'm wondering if there are any government grants that can help me? i have not been able to pay for morgage for a couple of months due to harsh circumstances and i heard that there are many government grants available to prevent foreclosure. can someone please tell me about grants that i can trust. i really don't want to loose my house. i would trully appreciate any help that you can give me. also if there are grants or programs that i should not trust please tell me about them. thank you.

US government foreclosure auction- just pay off the default balance and no auction process? There is a house up for formal auction through the US marshals office next Friday. The government's starting bid is $33,556 on this house. Would an interested buyer be allowed to just pay this $33,556 balance off to the government instead of going through the whole auction process? It just makes sense for the interested buyer to buy the house if all the government wants is the $33,556.

Anyone know how to obtain a home with a government tax foreclosure? Do you have any info on buying a house in foreclosure

National sales are down 0.04% and house foreclosures ar up 34%, so how long do we have to be bled by Obama`s..? failed economic ideas before it sinks into his head and that of his Democrat controlled government that their trillions of tax spending venture is a total failure?

Do you think that government should help all people forcing foreclosures? ? If they were irresponsible enough to buy a house that they can't afford why should i pay for it now. I wanted a house too, but decided not to buy it because I knew I wouldn't be able to afford payments if something like this would happen. And now responsible people have to pay for the mistakes of irresponsible ones now?

House to spend $15 billion to buy and fix up foreclosures? Isn't this OUR job? Foreclosures a good way for lower income families to buy a home, a boon to a lagging economy, a way for some of us to invest in our future. Why is government getting involved? There are more important issues than someone overextending themselves. (Sure i will get beat up for that remark)

What kind of government grants are out there to help with housing/home foreclosure? I'm on the verg of foreclosure and need help fast! I know it may be a bit far fetched to receive a grant for home foreclosure but I'm just reasearching any possibility to help me not lose my house.Any info will help. Thanks. well dawn666, My husband has a full time job and we have 5 kids and we like many people in the united states has found ourselves in a hard situation,so before anyone else thinks I'm a lazy bum try to not be an IDIOT first!

Does Montgomery County, MD's government issue foreclosure housing auctions? If so, where can I find more info? government-direct auctions, or government-authorized 3rd party auctions

Government Tax Foreclosures? Is it truly possible to purchase a house by only paying the taxes on it, and then sell it at true market price? They advertise houses for under 1000 dollars each. If anyone has any information in the form of links, or anything I would really appreciate it. Also, if you have tried this government program, please share your experience. Thanks

How do foreclosures work? My mothers house is about to be taken by the government. She is medicaid/medicare & has been put in a nursing home. If we don't sell the house the government steps in & takes it over. Assuming they will do the foreclosure on, how long could that take?

Why do people feel they need the government to bailed them out of a foreclosure? I have never lived beyond my means. I pay my bills on time including my mortgage. I have 3 neighbors who let their house go into foreclosure and yet they all drive the newest cars and have toys like boats and jet ski's. And by the way they just got back from vacation in Hawaii. I think the government should reward homeowners who pay their taxes and mortgages on time. And don't try to tell me these people were conned by loan companies. They knew exactly what they were getting into.

How do you like obama's idea about taking your house? obama is proposing that the government take ownership of your house instead of foreclosure and then renting it back to you. I believe Russia did this in the day of gulags and it didn't work very well.

Do you blame the people for the housing foreclosing, or do you blame the banks for the house foreclosures? i've heard many people say it is the fault of the people for signing with this banks and thinking that the economy would always be good, and that there morgage would be good enough for it to be paid in time. i think a lot of these crooked banks lead the people to believe that they could afford homes they couldn't, and with adjustable morgages a lot of people got screwed over. i also feel like the government has been ripping american people off for years with not paying us enough money to catch up as far as paying bills, loans, etc. well way in your side of the story. i also think this is the worst economic crisis since the great depression, and the bailouts won't work in enough time. yes yes all good responses but. if the government paid us more money there would be no real issue for us not being able to afford homes, cars, bills, etc. the salaries these days don't pay anyone near their worth, and in order to get a good salary you need some college degree, and even still unless it is business or healthcare most jobs and college degrees don't show much promise or worth in dollars. you'd have to be blind/deaf for us to think this recession is going to be fixed with bailouts- not really. the government has ripped us off for years without paying us our worth in dollars. everyone has a government job, everything is regulated by the government, and everyone pays bills/taxes. you sound ignorant. the government can pay us more if they wanted they printed out those stimulus rebate checks. they can pay more if they wanted to, and distribute the wealth better if they wanted to, but they haven't so. this is a result of the lack of people being not only honest, modest, and true. but the lack of money being distributed fairly- brace yourself the barack stimulus checks won't work. no bailout from bush to barack will be benefical.

Would it be illegal for government to prevent foreclosures? A house on my block burned two nights ago -- about 16 hours before the owners/buyers were to be evicted under a foreclosure order. They're in custody now for alleged arson [the fire was fueled by gasoline]. This and similar stories attest to how much families and individuals feel that they own their home -- "a man's home is his castle" -- and that they should not ever be forced to leave. Thus, we've been hearing cries to Congress to make foreclosures either illegal or to prevent them for 90 days, etc. *** In part, Amendment 5 to the Constitution of the United States reads ".... nor shall private property be taken for public use, without just compensation." If Congress makes a law which limits the rights of the loan holders to foreclose, or requires them to delay and thus lose even more money, would that not be a taking of their property right in the loan contract without compensation? Could the loan holders then successfully sue the government for damages and thus force their losses onto us taxpayers? *** If you disagree, please make a reasonable legal argument as to why either this clause in the Bill of Rights does not apply, or that the amount of compensation so due is zero. [Note: the Supreme Court has already ruled that rights under a private contract are 'property', so the argument that the Constitutional clause only applies to real estate will not pass muster.]

ARM Loan - Lost house before government stepped in - anything we can do? We lost our house in February of last year about 6 months before the government decided it needed to start helping out. We were with Countrywide and it got to a point were they just wouldn't help us. We couldn't afford to do another loan mod and have our payments go up in addition to the adj. rate increases. We had already done that once before when we had to escrow our property taxes (they weren't originally). Then because we owed more than the house was worth they wouldn't refinance us. Now all these homeowners are getting help keeping their houses and we have a foreclosure on our credit!! It is really frustrating when 400,000+ people are in the same situation we were and now they are the ones getting help. Is there anything we can do to alleviate the impact this situation has had on our credit? Sorry this was so long, any help you can provide would be great. If you can't help please don't respond. You have no idea how we got in the situation we did, the curcumstances around it or why our only choice was an ARM loan to begin with. We could afford the original payment and was given some real bad information and advice from the mortgage broker.

Do you really need title insurance on a foreclosed house? For example HUD recommends that a buyer of the HUD foreclose gets a title insurance. Why? Isn’t that redundant? Also, I know some lenders that require buyers to get a title insurance on a government foreclosure. I understand that on bank foreclosure it is necessary to have title insurance. But why on a government foreclosure? My understanding was that all the lens are dropped when you buy a government foreclosure.

Whats the process of auctioning a foreclosure house ? And how do you call for the foreclosure lists? Like who's in charge of it? Banks? Government? Or just realtors? Kay thanks :D please answer my question .

How do I find government tax foreclosure properties in my area How do I pay off the taxes and take over the house

do government tax foreclosure sales put people out of their homes? these houses are sold off on such low prices because somebody couldnt pay their higher interest right? well... that puts them out of their house by force doesnt it?

Has anyone ever heard of John Beck's Free and Clear program? Its buying houses from tax foreclosures.? I want to know if it is a safe thing to do. I guess you can buy houses from the government for $500. It seems to good to be true but the infommecial showed lots of info to back up its true with success stories. I just want to know if anyone knows anything about this John Beck guy.

How do I apply for a government grant to avoid foreclosure? We're on a thin line of losing our house, both of our income has changed and despite desperate efforts (cutting out all unnecessary expenses) we're still in a hole. Is it truly possible to get a government grant, and if so, what are the qualifications? Our next step would be filing for bankruptcy so please help

can the bank take your personal belongings from the house during foreclosure?!?!?!? My house will be up for foreclosure and i was wondering if the bank or the government can come one day and just take all my personal belongings from the inside of the house. Please help! Thanx

Is there a new refinance program that forgives negative equity and refinances the house at current value? I heard about some new government loan where if your home has dropped in value, the government will absorb the depreciation and refinance your house at its current market value. I just bought my first house in August of 2008 for $275,000 which was a foreclosure and the other foreclosed homes surrounding me are now being offered in the $240,000 range. So in 4 months I've already lost around $35,000 in value.

is the government tax foreclosure true? I saw an infomercial on government tax foreclosures and how you can order an entire info package, but i just want to ask if this is true and ask how it works, are the houses really that cheap and if there is a catch.

Where can I find listings for houses that the government is selling? that is, foreclosures, and without paying a fee. Thank you!

How many houses can u lease to the government so that people can get government housing? For the past 10 years I have seen a house that always had a family that always spend their time outside doing nothing. I would wonder where they get their money. But this happens in a couple of houses, no one. Can I get in on this. Here is my plan Im going to get a cosignature to get a couple of houses from these auction foreclosures. Im going to lease them out to the goverment to get my paychecks to pay for a third of the mortgage. But this happens in a couple of houses, no one seems to work, except for the father that comes twice of month Im thinking the government pays 100% of the house bills. But im not sure if the guy has one house to his name & the other to his wife's name.

My mom lost her House due to the Economic crisis. With this new plan will she be able to get her house back? My mom lost her job she with this whole economic crisis so she was not able to make the mortgage payments she lost her house due to foreclosure. Now she has a job and would be able to make the payments if it was refinanced to the new value? Wouldn't it be better if the government or someone does something so she can get it back?

Which candidate will give you this shopping list: an immediate end to the war in Iraq, government funded healt care, legalized/recognized gay marriage, instant bail outs for housing foreclosures, indefinitely extended unemployment benefits, and closure of all military recruitment stations?

Is there any way to get government help to stop foreclosure? There is a sale date for my house, so I don't know where to turn. Plus I will need money to move.

can my house go into foreclosure if i have lived there longer than 10 years? mortgage is with countrywide. . . also did the help the government say the were going to start doing for contrywide mortgage holders allready go into effect?

What is the best way to buy a house in Tacoma or Lakewood WA? We are looking for to buy a house and . There are so many agents and websites and prices listed. Do we need to go through a real estate agent only? Is there any Government agency which can help us find a cheap deal or should we contact banks if they have foreclosure properties. Please guide us,we are confused on how to find a cheap deal.

Can the government get a deficiency judgment? Almost 3 years ago I purchased a house with a government loan (USDA). This year they decided to up my payment by almost $200. I am a single mother and can not financially pay this higher amount. I have asked them to work with me and try to find out why they decided to raise my payment, but I have found no answers. I am trying my best to keep up, but seem to be falling farther and farther behind. My question is: If my house goes into foreclosure can the government try to get a deficiency judgment. In the state I am in they do not allow for deficiency judgments, but since it is a government loan does that make a difference? Also if I am foreclosed on, since it is a government loan, will it effect my Pell Grant?

Buying a foreclosure house? Is there a program if you purchase a foreclosure house that's been sitting there for a while that the government gives you money or helps you out with repairing the house?

Do you support providing government assistance to people who cannot pay their mortgage? Creative financing in the past two+ years allowed financial institutions to give individuals who wouldn't normally be approved for a mortgage (because of poor credit history and/or unstable employment record), a subprime mortgage. Today, 730,000 of these individuals are not paying their mortgage payments and are facing foreclosure. Countless others are struggling and don't know if they will be able to maintain their payments and keep their homes. The House approved the "Expanding American Homeownership Act of 2007" that will give the Federal Housing Administration the authority to assist struggling homeowners in making their mortgage payments. Should the taxpayer be responsible? If the individual doesn't receive assistance and loses their home, will the government (the taxpayer) have to provide some other form of financial assistance that would, in the long run, be equal to what is spent to help them pay their mortgage?

Are we preventing foreclosures through any social programs? Why do americans have to pay interest? I mean it is our money, from our government, why do we have to pay interest on house loans and student loans? How do i find out if all govts charge interest to their people...

Has anyone heard of buying tax foreclosure property? I was told you can buy a house at one of these government tax foreclosure sales for about $600, and the house is worth a whole of alot more like a house of the value of $180,000. All you have to pay is the property tax light, water... and the house is legally yours? Has anyone else heard about this, is what I been told accurate? Where else can I find out about this type of sale my self, Thanks for your help.

Can you tell me about the safeguards that the Government ..? is putting in place for property buyers now to help keep houses out of foreclosure ? I am planning to purchase my first house soon , but I am in 2 minds due to our declining economy and job losses .

Buying government tax-foreclosure properties at pennies to the dollar? How is it possible that infomercials state that properties that government tax- fore-closure properties are selling for literally 2 or 300 dollars online?....This obviously cannot be true but how can they get away with making such sensational and impossible claims? Doesnt that break some better business bureau law somewhere? Are there any elements to this idea that are true? What is and what isnt? Can you buy a house that is in the final step of foreclosure like you see on web sites like trulia.com for only a coupl thousand or so for 3 bedroom nice houses?...How does this work, how do you buy a house that went into total foreclosure scott-free? I would apreciate any advice about investing in houses with out huge amonts of money down or even good credit..Thanx everyone :) Are house auctions the only way to really buy houses at a discont price? And where and when do houses get sold cheaply at auctions?

Man bulldozes house facing foreclosure? Good for him! We need more like him. Oh the government will bail out a rich banker, but a poor working stiff too bad.

Would I have been better off buying a house I couldn't afford? I bought a house last year. And get this, I bought a house that I am able to afford to pay for. crazy, I know. This mortgage foreclosure "bailout" is making me feel like I would have benefited more if I had bought a house that i couldnt afford. I could have just waited for the government to save me from my irresponsible decision. Shouldnt responsible home buyers be given some help if irresponsible ones are?

News forecasts, be more specific on borrowers rights on foreclosures. Help us? Who can we contact for help? Who can we trust with so many scams and identy theft everywhere? Should we get legal help as well as housing counseling? How do we get in contact with the loss mitigation dept. with the lender? Whats our government doing to help/protect us from foreclosures?

Remember when the liberals said the government wasn't "taking over the banking industry"? WASHINGTON (AP) -- A senior House Democrat threatened banks Wednesday that if they don't volunteer to save more homeowners from foreclosure, Congress will make them. In a sternly worded statement, Rep. Barney Frank said Congress will revive legislation that would let bankruptcy judges write down a person's monthly mortgage payment if the number of loan modifications remain low. Sounds like the government is completely running it now. The best part of the whole thing is Barney Frank helped cause the whole housing collapse by requiring banks to lend to low income families to start with. Now that they can't repay the loans, he's telling the banks they can't get their money or foreclose. Classic liberal politics. I bet the Auto Industry guy's butt cheeks just slammed tight. They know what is coming their way next.

why is the government "bailing out" these financial institutions rather than helping homeowners in foreclosure? why didn't/don't the government help out homeowners that were/are in foreclosure? but instead, now they are helping/"bailing out" these financial institutions that made the risky mortgage loans and have caused the housing crisis in the first place. can anyone help explain this to me?

What is you Government doing for you? How is your government doing? If any- one citizen living in the United States feels that the answer to this statement might be true, then it is time for you to act. Stop sitting on your hands doing nothing to fix our problems in Government. No more sitting back waiting for some knight in shining armor to come rescue you, they just are not going to come. No more putting your trust in those fast talking pimps because they care more about their own family, friends and MONEY then doing the real work of the people. Moreover, no more expecting those that we elected to do what is in the best interest of you, the city, the state, or your NATION for to many have proven to us they are inapt and not even deserving of our respect. In order for our Country, and our expected way of life to be sustained, and thrive, it is going to take the citizens that really care enough to pull it out of the pathetic state that our leaders and have now put us in. It is going to take the citizens to start evicting the present so-called leaders and start electing people that care and lead by example. You want change and respectability from other countries. Then stop falling on the sward and start thinking about change that will help us out of our situation and help us grow. We the people need to start stepping up and voicing out about these people and the changes needed, to bring us back to the GREAT NATION we should be and once were. Remember these caring elected people tell us what we want to hear just to get into office, and then they show their true colors. They are taking away our way of life, our jobs, our culture, our plain existence. Honestly, can these people that have hurt us so much care, be trusted with any more of our future. We must stop allowing ourselves to be lead astray by any organizations such as the Democratic Party, Republican Party, or any group, or any other organization. We deserve better, far too many of our pseudo leaders could not lead us past the front door of their banks and are leading us astray with plain BULL, most if not all are just self-fulfilling, and self motivated. THIS MOST STOP One of the greatest things we have in America is the power to make change. As some of the greatest ancestors that founded our great nation intended and fought for us. This is why we have the right to protest and remove the power that is damaging or economy and national security. Our constitution within it self-states we all have a voice that we have rights and should stand up and act, be counted. As our Government has grown 60% over the last 10 years, we have lost our way. One hand is unsure of what the other is doing, weeks of debate to fix nothing, Congressional hearing over steroids in baseball, the list is endless. Moreover, all the while, we the people are without jobs, economy is in a free fall, housing foreclosures everywhere, and our nation is shipping jobs and companies to other countries. We have become so TOP heavy and controlling that the people are the last thing they seem to care about. Keep in mind they keep collect there pay for this poorly, and inadequate job they are performing. We cry foul over the slaves of the past and wrong we where. However, that is what we are moving back to with the way our present GOVERNMENTS thinking. This time it is the powerful and the big corporations the rich and government leaders Vs the little people (slaves), that are dying off and forced to work at nothing jobs as the good jobs leave the our country. NAFTA, a way for the United States to increase jobs and a foothold in the world, what jobs you might ask, I ask that myself everyday another company leaves for Mexico, Japan ect. We have lost over 40,000 companies over the last few years and more than 500,000 jobs this year alone. Therefore, I ask , is our Government doing the right thing for our nation, our people. Are these holders of offices helping the people or just the corporations? In reality who is beneficiary of the changes, they have made to our customs laws and open borders, truly not the American people. Truly not the hard working people that made this country great, not the grandfather that is forced to work at Wal-Mart at the age of 72, because he can’t afford his prescriptions. As Mr. Bush, is set to leave office with his FULL retirement package for life I might add, after doing such a piss poor job for the last eight years, will he care about the damage he and this cronies in congress, and house have done to the American economy, I THINK NOT. Much like the companies that give big severance packages to CEOs that have mismanaged a business, after the stockholders have lost millions. One that comes to mine is a CEO that received 68 Million in severance for his inapt work (YOU KNOW WHO YOU ARE). Another is American Axel, 8 Million dollar bonus, and a raise after employees took pay cuts; benefit cutbacks, and costing more the 300 AMERICAN people there job in the United States that moved to MEXICO, sure, he deserves a raise. Again, I cannot stress enough how important it is for the people of the United States to be the agent of change for the betterment of America and for saving our Nation, DELAY on this will lead to our own demise. We are constantly saying that the Government is destroying our lives and we need less Government interference, then we need to fine the fortitude that lies within ourselves to stop them NOW. Selfish politicians that claim there helping, and looking out for us are now mistreating and abusing us. Over empowerment in office has allowed them to destroy us and destroy our GREAT NATION. We need to rebel against them and do the right thing, force them to do the right thing or get out of office; the situation has become so pathetic in the United States that it is now or we all will parish into a 3rd world nation. To protest is much like a riot; you can force change, but it is not going to change if we keep excepting the wrongs that we are and have endured. We must stan up and fight back, we are the leaders of change in this world and we must not allow them to continue their dangerous, destructive, and greedy ways. We deserve better, rise up make a stand, start making a difference TODAY, be heard now. Truly, any politician that really cares has a stake in this and the UNITED STATES and should stand next to and with us and finely fight for the people and FORCE CHANGE TO NAFTA and illegal Immigration, and this mismanaged Government as a hole. Someone needs to come forward, embrace this movement, and improve AMERICAS FATE. The fate of AMERICA rest with the people right now, because we can no longer have faith, or trust in the ones we have so inaptly placed in office and in control of our GREAT NATION. We have elected the same people to the same office so many times that they feel it is their right to be there, along with that, we have so many of our politicians with family and friends in office its turned into too ; the good old boy game. Furthermore, we allow a politician to move from one office to another when they can’t run there anymore because of time restraints, what good is that, we just open the door for them to do favors for one another to get that post, and we end up with the same results, different person. However, with our own inability to see the truth, and past their GREEDY way and bad decisions we have failed ourselves. Nevertheless, it is not to late to correct our problem. We can stand up and do today what we should have done yesterday or last week. KICK THEM TO THE SAME CURB THEY HAVE BEEN TRYING TO KICK US TO AND START OVER WITH NEW AND VERY AMERICAN PEOPLE. YOU CAN START TODAY BY CALLING EVERY GOVERNMENT OFFICE IN YOUR STATE AND ASK THEM TO RESIGN, FOR FAILING TO MEET THEIR OBLIGATIONS TO THEIR OATH, AND PRESERVE THE UNITED STATES OF AMERICA.

What does the housing foreclosure all mean? And, the government stepping in freezing the rates? What is really happening in American society? Since I'm pretty isolated. Can somebody explain this to me in a simple but not too short of a way?

Will the government start opening shelters or low cost apartments for all of those losing their homes? There? is not enough low cost housing to go around. We lost our home to foreclosure it goes on the auction block in July.

What's the deal with the Government not coming to the table with regards to these foreclosures? We all look for who to blame and the Government is quick to look all around for a resource however they were aware of what was happening to housing prices and at the time only stood by and watched property taxes increase in some cases 500%. Why are they not rolling back past due tax bills to the amount before the sale that caused the increase and apply the amount as a lien due in 10 years? The economy will not withstand their hard line approach. First 5, you have a point and I completely agree that it's the responsibility of the home owner. However I work in the industry and this thing is goin to hit the fan in the next few months if we don't do what we need to here rather than whats right. Do you realize that the sale of an REO property in your neighborhood hits your home value in the immediate area by as much as 27%? Who do you think pays for all of this if the banks most effected by this cease to exist and leave a trail of debt in their wake. I'd rather pay now than wait till things get really bad. All of you out there in their 40s and 50s remember the S&L problems in the 80s don't you? Besides I suggested a bond type lien, not a bailout gift. Please reread the question till you get it. Foreclosure Fish has the right idea, however the negative impact of expensive Government involvement is already in place with the programs created. It's as though Local Government has a trashbag full of money and when the trashbag gets a tear they increase the costs to the tax payer to buy more trash bags. It's already costing us money, as well most lenders required an impound account to make sure taxes and insurance on the property are maintained. I've found that most lenders are not just absorbing the cost of the P&I but in many cases the T&I as well. One of my Loss Mitigation clients owed 12k in back payments and an additional 15k in taxes and insurance so local government has not even begun to feel the pain yet... who do you suppose they're going to run to when they stop getting paid. Further, you cannot tell me that the costs to operate local community has increased to the same 500% degree as property tax revinue.

$7,500 US Government Foreclosure Tax Credit ? Is that per house or just one home

If the federal government aides homeowners? Whose houses are in threat of being foreclosed, should they not help everyone equally? I could have bought a house and been in a foreclosure situation but did the research and decided that an ARM mortgage is not a good thing. If they refinance these homes through Fannie and Freddie and other banks should they then be forced to offer me the same equity adjustments and low rate refinancing they offer these folks, or should only the irresponsible be rewarded? And no I am not talking about people who lost their jobs and are now in foreclosure because you know what the government would not have done anything for you normally. Obama WOn: As I said my issue is not with the people who fell on hard times, if it wasnt for this financial collapse and their homes went into foreclosure they would get ZERO help from the government...My Issue is with people who lived above their means. Or were "duped" into adjustable rate mortgages that saw their mortgage payments triple, educate yourself and read the fine print, get a good lawyer, realize that no one is going to give you something for nothing...well now they might get something for nothing! In response to your Christian Charity comment, that should be for the less fortunate, not the irresponsible!! To answer your Question Mr. Won, no I have never been in a class room where the teacher makes the whole class do something like that, the people that act out are punished individually!

Will Obama and Barney Frank fix my credits? My car is 90 days late, Rent-a-center wants my Tv back and my house is in foreclosure. The government needs to help me, my unemployment isn't enough, I went to trade my car and got turned down we need CHANGE

Will many conservatives soon be on welfare and section 8? Now that housing foreclosures are a reality, and the economy has tanked, will conservatives have to go on welfare, and section * assistance, or will they just be wondering the streets, drunk and panhandling rather than take government assistance and participating in President Obamas plans to stimulate the economy? so since the economy does not seem to be affecting some of you posters, and some of you are practicing discriminatory hiring and firing practices, i can only conclude that i will be informing the government of your obviousely illegal activity, since you must either be drug dealers or be dealing in foreign country slave labor. lol. wise up

Who do you blame for the financial crises in the USA? I say george w. bush, but i dont think that is the correct answer. I think the government because they have been printing out too much $100 bills. (that cause all these foreclosures) i heard that one family is in danger of losing their home . This may sound odd to you, but 3 houses having foreclosures on the same side of the block that are close to each other don't happen in a snap of a finger. What do you think? Who's fault is it, and why?

What do you think what could happen in the future of real estate and Loan Mortgage businesses? It seems that foreclosures are all over california. I just felt for those homeowners that they have to go to foreclosure because they can't pay their house payment everymonth. Some people who have 3 or 4 rental houses are foreclosing, is there anything remedy for these? What do you think they should do? Are these builders for new houses have something to do with the collapse or the realtors or the lenders? What does the government do to these houses that being foreclose, that no body seems to not interested in buying? There are thousands and thousands of them and they are very nice houses too???

Government has been the principal factor preventing the “affordable housing” that politicians talk about so mu Government has been the principal factor preventing the “affordable housing” that politicians talk about so much. Amid all the hand-wringing and fingerpointing as housing markets collapse, mortgage foreclosures skyrocket, and financial markets panic, there is very little attention being paid to the fundamental economic and political decisions that led to this mess. The growth in risky “sub-prime” mortgage loans by people buying homes they could not really afford has been a key factor in the collapse of housing markets, when the risks caught up with both borrowers and lenders. But why were home buyers suddenly taking out so many risky loans and lenders suddenly arranging so much “creative” financing for these borrowers? One clue is the concentration of such risky behavior in particular places and times. Interest-only mortgages, where nothing is being paid on the principal for the first few years, enable many people to get started on buying a home with lower mortgage payments at the outset. But of course it is only a matter of time before the mortgage payments go up and, unless their income has gone up enough in the meantime for them to be able to afford the new and higher payments, such borrowers can end up losing their homes. Such risky mortgage loans were rare just a few years ago. As of 2002, fewer than 10 percent of the new mortgages in the United States were of this type. But, by 2006, 31 percent of all new mortgages were of this “creative” or risky type. In the San Francisco Bay Area, 66 percent of the new mortgages were of this type. Why this difference in times and places? Because housing prices were skyrocketing in some places and times, so that people of modest incomes had to go out on a limb to buy a house, if they expected to buy a house at all. But why were housing prices going up so fast, in the first place? A number of studies of communities across the United States and in countries overseas turned up the same conclusion: Government restrictions on building. While many other factors can be involved — rising incomes, population growth, construction costs — a scrutiny of the times and places where housing prices doubled, tripled, or quadrupled within a decade shows that restrictions on building have been the key. Attractive and heady phrases like “open space,” “smart growth,” and the like have accompanied land use restrictions that made the cost of land rise in many places to the point where it greatly exceeded the cost of the homes built on the land. In places that resisted this political rhetoric, home prices remained reasonable, despite rising incomes and population growth. Construction costs were seldom a major factor, for there was relatively little construction in places with severe building restrictions and skyrocketing home prices. In short, government has been the principal factor preventing the “affordable housing” that politicians talk about so much. Politicians have also been a key factor behind pushing lenders to lend to borrowers with lower prospects of being able to repay their loans. The Community Reinvestment Act lets politicians pressure lenders to lend to people they might not lend to otherwise — and the same politicians are quick to cry “exploitation” when the interest charged to high-risk borrowers reflects that risk. The huge losses of sub-prime lenders, some of whom have gone bankrupt, demonstrate again the consequences of letting politicians try to micromanage the economy. Yet with all the fingerpointing in the media and in government, seldom is a finger pointed at the politicians at local, state, and national levels who have played a key role in setting up the conditions that led to financial disasters for individual home buyers and for those who lent to them. While financial markets are painfully adjusting and both lenders and borrowers are becoming less likely to take on so much risky “creative” financing in the future, politicians show no sign of changing. Why should they, when they have largely escaped blame for the disasters that their policies fostered?

Can the govt. garnish wages on a federal loan foreclosure? I have a friend and her boyfriend that are trying to buy a house with a government loan because they give 100% financing. I'm concerned for them that if they ever default on go into foreclosure that the government could garnish their wages until they paid the difference between what they owe and what the government can sell the house for. Is this a possibility?

Which of these families deserves government mortgage help? Please tell me which of the following families deserves government mortgage help: A. single mother with three kids. working, never married, child support erratic at best. bought a house in 2006 with a 5/1 ARM subprime loan. can't afford payments now that the introductory low interest rate is ending. B. married couple with two kids. both were working in 2005 when they bought a house using an alt-a loan. she lost her job in 2007 and her new one pays less. his self-employment business is slowing as his customers feel pinched and do without his service due to the "recession". two months behind on payments with reset to higher rate in November. C. married couple without children. Lost their house to foreclosure in 2007 after he was disabled in a work accident. Disability wasn't enough to continue making the payments after his medical costs soared. D. 83 year old widow. Owns her house free and clear, but can't afford the property taxes and insurance because houses in her neighborhood tripled in past ten years due to easy money loans and thus many buyers. Now can't sell as the market has crashed. Six months past due on property taxes. E. couple with two college age children who re-fi'd their house in 2006 to pay their childrens' tuition. Closed a 401k to make tuition payments in 2007 and borrowed from relatives to pay again this fall. House is 45 days past due but older child doesn't graduate until December 2010. F. Retired couple whose only regular income is small pension plus social security. Their retirement assets in stock market have taken a beating this year. Borrowed in 2004 against their house when he had a heart attack that caused his early retirement [which crippled his pension]. Rising costs of gas and food have made them 30 days past due and they have no way to catch up without further damaging their retirement assets. G. Manager and stay at home wife with two children in public school. He lost his job two years ago -- it was outsourced to China. Now works at Home Depot, but the money isn't 1/3rd of what he used to make. Still looking for that managerial job, which costs hundreds a month in extra costs. they've gotten their foreclosure notice and are thinking about filing bankruptcy to buy time. H. Market trader and retired wife who lost $125,000 when his short sales were arbitrarily ended by SEC order in this financial crisis. Hasn't made trading profit since last October. Now two months late and getting daily phone calls from mortgage servicing company asking for money he can't pay if he is ever to recover his losses in the markets. I. Retired couple who saved and planned out their retirement for last 25 years. Retired in 2007 owing nothing, but living off 401k payouts and social security. their assets are down 25% so far in this recession and they'll have to cut costs next year, which means short selling the house into increasingly bad market and paying bank off on the loss over next who knows how many years [if ever]. J. Sixty something widow whose assets were wiped out by husband's death via Alzheimer Disease and private nursing home for 4 years. Has only Social Security now as all their retirement assets except the house went to pay the nursing home. Took a mortgage in 2005 to pay off the husband's medical bills and burial. *** please tell me which, if any, of these families deserve government help in staying in their home or recovering their home. This question has no political point to make and is solely to gather information regarding what the Y!A public thinks America's public policy should be. While all of these situations are real to some family, I carefully crafted each of them to show a case where the people involved arguably are losing or lost their home because some other part of our economic system had a breakdown. In theory, none of these deserve government mortgage help, imo. Some of them needed either less or more government in some other part of their lives and because of that issue, were financially savaged to the point of losing their home. Afaic, the mortgage industry should NOT bear the brunt of other failures in America's systems -- doing so only distorts the economy even further. Did the mortgage industry have its own failures? YES. Mostly, they had a failure of spine. They didn't stand up to Congress and HUD in the 1990s when both needed to be told that their rules were requiring the banks to write bad loans that shouldn't have ever been made. Big government needed to be told "NO".

Why hasn't the government jumped in to help people in foreclosure because of predatory lenders? I am in foreclosure in Maine because a lender set me up for a payment I could not legitimately afford, and am losing my family home that I have owned for 20 years, and my grandfather owned for 20 years before that. My mortgage is $2,012 per month ($2,600 offered in a "work-out") and my monthly take-home pay is $2300. Go figure. AND they charged me $19,000 in closing costs!!! I have just been told that 7 out of 10 homes in Maine are in foreclosure because of this same scenario. This is a MAJOR crisis and the only people out there to get help from are other predatory lenders willing to do the same thing to me to help "save my house" - it continues to go on. I have worked full-time all my life, always paid my taxes, am a law-abiding citizen, and yet, I can find no state or federal programs that I am "eligible" for because I "make too much money ($38,000 per year faily of three), and I am not an immigrant. Someone please explain this to me.

Why should I pay my mortgage if I can get the tax payers to bail me out? Obama plans on stopping foreclosures! Why not let the government pay for my house? Or give me such a low interest rate that I can pay it off and resale it for a bigger profit? Or just sale it and move to a better nieghborhood? It is sad that you just support Obama and you don't hear what he says! He is now pushing to stop all forclosures! It's called a moratorium on all forclosures!!!

Why are Republican party supporters in denial over the fact that the GOP is now a socialistic party? With the nationalizing of the banking system, GWB has brought the USA to socialism. McCain plans to follow the path laid out and one-up GWB by bailing out home owners facing foreclosure as well. Obama wants a goverment healthcare system. Either way you vote this year, you are going to get socialism. So why are we to fear only the Democrat's socialism when the Republican candidate will have the government owning houses all over the country?

I am in desperate need of some help. Need to know where to go for financial help for my mother in New York? My mothers house is going into foreclosure and she needs some kind of goverment help so that it would pay her mortgage before she looses her home. You see she kind of got bamboosell into some bs and now she is in trouble. A so call company promised to help her mortgage her home and instead she got taken. My point is where do we go from here in NY legally were my 68 year old mother, grandmother and greatgrandmother lto many goes for support lfrom our government without loosing what shde so righteously earned in her life. Her Home. URGENT time of the essences.

The county I live in is passing a law to stop foreclosures. What do you think? I work for the county in the offices so I am not allowed to disclose what state or what county. Basically the heads of the county government and the sheriff got together and are temporarily asking the sheriff's department to stop foreclosures pending the new law. The law was created to because it was displacing familys who had no where to go and also leaving abandoned property in the town where it has increased crime. Under the new law, a bank or mortgage company cannot foreclose upon a property unless 1) Can prove they will have someone occupy that property within 30 days or 2) The taxes have not been paid on the property In addition, the law states that it will not allow foreclosure if there are children living in the house until it is stipulated in the foreclosure that they will have adequate housing. Meaning, they can't throw a parents with children on the street unless the parents, state, or bank find them adequate housing. 2) There is also another law they are passing that if a foreclosed property is abandoned for more then 90 days, the county will fine the property owner $20/day until proof can be satisfied that either the property has been sold for occupancy or the bank has found someone to occupy the property. These new laws exclude private party liens on property. Such as owner-financing. I think it is great that they are doing this. I mean sure, people should pay their bills. No question about it. But sometimes, people lose their jobs or mortgage companies screw over people by changing their interest rates and people can't afford to pay their mortgage. This law is to protect people from being out on the street and to control crime from abandoned property. Unfortunately, when a bank gets wind of this, I am sure they will start sueing in state court when the sheriff's office refuses to do a foreclosure. Then ofcourse, no one will right mortgages in the county probably. But I am ok with that. What do you think about this? FYI - Let me clarify the law. If the bank wants to foreclose but the occupants are paying the taxes, the bank can still foreclose as long as they can have proof there will be occupancy after they leave. Ofcourse, in regards to children, that other thing in regards to making sure there is adequate housing would have to be met too in order to go forward with the forclosure. kkoh: So you would rather see all these families get displaced so that the banks make their money? Wow. Got it.

How do I find foreclosures in Oregon (maybe Coos Bay) -- without giving out my credit card to a service? My wife and I are moving back home from Tennessee to the Coos Bay, Oregon area and we would like to look at what foreclosures are available. I know there are several services that take your credit card and give you a list -- but I am wondering if there's an easier/free way to do it? I doubt a realtor is going to tell you because they work off a percentage and there really isn't a "seller". Do I go to the court house? A bank? Is there a government entity that handles this? Thanks for your time! Robert

What are your thoughts on the current housing market? What are your thoughts on the current housing market and interest rates? What do you think really happened to cause so many foreclosures and what do you think can be done to correct the problem? Do you think the government should interfere?

Secret clearance and foreclosure help? Due to unforseen circumstances my house went into foreclosure last year. This year I have a job opportunity to work with the governent, but they are requiring a top secret clearance. My questions are, Will I get denied a clearance because of the foreclosure? (besides the foreclosure my credit is pretty good. (No charge offs or delinquents)) Will I have to wait the whole 7 years (when the foreclosure drops off my credit) to apply for a government clearance. I would appreciate an answer from someone who was in a similar situation or someone who is a professional at this. Thank you in advance for your help.

What do you do when youve lost your paid off home to a flood, and waited 4 years for fema to do nothing ? Thats right !!! Our home was severly damaged in a flood 4 years ago and it WAS declared a disaster area. Fema gave us $800 for a footer and never went under the house. Then they said it qualified to be bought out and after 4 years of government runarounds and the roof collapsing and FEMA not coming up with any more money we had to sell it and take a $40,000 loss !!! We never got a credit card like Katrina victims or any other assistance. We had to evacuate the premises immediately on our dime with no help from the government and relocate. We have spent nearly $25,000 bucks in rent waiting on them to say we don't have the money yet to buy your 49,000 dollar home !!! A construction company had been really pestering us to buy it and we got fed up and sold it. Now we are looking at foreclosures and bank repo's and home auction websites, but people with more money than us keep outbidding us on homes that we see and like !!! GOOD LUCK TO NEW ORLEANS AND MINNESOTA !!! How do we get help ???

Can you get a real estate loan (Gov/Trad) to purchase a more affordable home when you are now in a foreclosure Job loss and injury caused us to fall behind on our mortgage payments. The Bank wouldn't work with us and began foreclosure proceedings after 30 days late. We cannot afford our current home. We are trying to sell, but the sheriffs sale has happened, our time to sell is limited. We have located a different home that is 1 1/2 times cheaper & will allow us to make MUCH lower house payments. We have some money to put down (the bank wouldn't take partial payments, work out repayment plan etc..) but we need to finance the balance for this different home. Our credit is terrible now because of this but we need a home for our family & children...are there any loan programs (government or traditional) out there to help us get into this home. We tried going Contract for Deed but the Foreclosure Co. wants to cut the home loose (the home we are trying to buy is a foreclosed property that needs repairs but the payment would be $100's less than we pay now) -Any guidance would be appreciated.

For foreclosure properties, can you tell me the steps of the process please? For example, how is it determined whether house is owned by bank or government and whether… and how is it determined whether it goes on the market or to an auction… and where are the auctions held? If back taxes are owed, does the bank pay the city off? I am very curious as to how this process works. If know any of these answers, will you reply please? Thanks!

Why are republicans the first to believe the government when it says "No Recession" ? Republicans are always screaming for smaller government and less interference, yet they are the first to believe the government when it says "not a recession" Doesn't it matter to them if housing costs have decreased by 20% or that foreclosures have reached a record high? Never mind that wages, growth and employment is stagnant? Never mind that the price of food and fuel have skyrocketed? All because the government book says it's not a recession yet? What is the reason behind republicans' logic? Good for you Nashville guy and other republicans who see the reality of the situation. My question is not directed to you, but to the YA! Republicans who are constantly saying we are not in a recession.

"Stuck" with a house, need help!? So about 3 years ago, my (now ex) girlfriend and I bought a house together. With the recent breakup, we are needing to sell it. We bought the house for too much (since the market was "booming" then), but now it needs to go. How does the loan work if we sell it, but don't make what we have to cover the loan? Are there any options through the government that can help out? Obviously I'm not wanting any money, and have no problem just cutting my losses and moving on as quick as possible. So short of just a foreclosure, is there any way I can just get out from the loan? Also, forgot to mention, I have went through several mortgage companies wanting to just refinance and afford it by myself, and that's not happening. She doesn't want it either.

the bloated welfare states of France and Sweden have lower corporate rates and generally better corporate tax? Now that recession-warning lights have begun to blink, Democrats should give tax hikes a rest. As tax-happy Democrats might have noticed, the stock market resembles a kindergartner on a swing set: half-giddy, half-scared, and hyperactive. Meanwhile, payrolls sagged by 4,000 positions last month. Not since August 2003 has America created no new jobs. Fifty-two economists in September 13’s Wall Street Journal offered a 36-percent average probability of recession by next September, up from 28-percent in August. Oil hit $81.93 per-barrel Wednesday — hardly good news. And the tumultuous home-mortgage industry suffered 243,497 foreclosure listings last month, up 115-percent versus August 2006, RealtyTrac.com reports. This mess triggered 12,000 layoffs, just at lender Countrywide Financial Corp. To prevent tight credit from suffocating the economy, the Federal Reserve Board Tuesday hastily administered a 0.5-percent federal-funds-rate reduction. Amid these worrisome omens and genuine human suffering, the last thing America needs is for congressional Democrats to stuff a pillow over the economy’s face. But they can’t control themselves. “Through 2012, the Democratic Congress’ new budget raises taxes $217 billion,” the National Taxpayers Union’s Pete Sepp calculates. “If no surpluses appear that year, another $175.5 billion tax hike automatically kicks in.” This $392.5 billion includes a halving of the per-child tax credit, restoration of the marriage penalty, a 50-percent leap in the low-income tax bracket (10-percent under Republicans; 15-percent under Democrats), and the resurrection of the Death Tax — from 0 to 55-percent. After August’s tragic Minneapolis bridge collapse, House Transportation chairman James Oberstar (D., Minn.) proposed a “temporary” nickel-a-gallon federal gasoline-tax increase. Never mind that existing gas-tax revenues vanish into narcissistic pork projects rather than urgent infrastructure repairs. Such a tax hike would “cost American motorists an estimated $25 billion over the next three years,” NTU reckons. Democrats cannot plea that soaring deficits require tax hikes to absorb red ink. Indeed, the federal budget gap narrowed from $413 billion in 2004 to $158 billion today, proving that the best deficit medicine nearly always is to limit taxes and consequently unleash American enterprise. A thinner federal slice of a bigger economic pie usually yields revenues exceeding pre-tax-cut levels. Federal receipts have zoomed 7-percent this year. “The tax cuts are working exactly as intended,” Heritage Foundation analyst Brian Riedl argues. “Lower tax rates have increased the incentives to work, save, and invest, and as a result, the economy has grown faster than expected.” He adds: “Concerns that the Bush tax cuts would lead to a long-term shortfall of government revenues have proven false …Tax revenues in 2007 are now estimated to be $70 billion above the level projected even before the 2003 tax cuts. In other words, tax revenues are now above their pre-tax cut baseline.” Democrats cannot deny what happened after President Bush and Capitol Hill Republicans slashed maximum capital-gains taxes from 18 to 15-percent in 2003. Rather than dwindle $5.37 billion between 2003 and 2006, as the congressional Joint Tax Committee’s antique, static-analysis model wrongly predicted, revenues actually advanced $53 billion. Foreign economic ministers understand these lessons and are lowering taxes as if Franklin Roosevelt never lived and Ronald Reagan never died. “Sweden and Russia last year eliminated their estate taxes because they said the tax was economically counterproductive,” economist Stephen Moore wrote in the August 31 Wall Street Journal. “In Germany under Chancellor Angela Merkel, the corporate tax rate has been reduced to less than 30 percent from 39-percent.” Poland recently chopped its business tax from 27-percent to 19. Even Hanoi gets it! Thanks to corporate-tax relief, “the business environment will become more and more attractive, resulting in increased investment,” Vietnamese tax chief Nguyen Van Ninh told Moore. While America’s corporate tax levitates at 35-percent, seven European Union nations have lowered business levies this year. The EU-average corporate tax is 24.2-percent. “Further corporate tax rate cuts are being implemented in Germany, Estonia, Spain, and the United Kingdom, and rate cuts are being discussed in the Czech Republic and France,” observes Cato Institute senior fellow Dan Mitchell. “Even the bloated welfare states of France and Sweden have lower corporate rates and generally better corporate tax systems than America.” Democrats thus resist global pro-market trends, even among progressive governments long on social solidarity and short on “reckless cowboyism.” But, for most Democrats, these facts and numbers are irrelevant. Taxes are not about merely funding vital government duties and basic public services. They are meant to punish the wealthy, “correct” personal behavior, and distribute universal largesse. Thus, Democrats itch to raise taxes on highly lucrative private-equity partnerships, from 15 to 35-percent. True to form, the Democratic Senate voted in August to hike cigarette taxes 156 percent, from 39 cents to $1 per pack. This would ignite a massive explosion in the State Child Health Insurance Program. The Democratic House extended government medicine to kids in families of four earning quadruple the Federal Poverty Line, or $82,600 — twice today’s threshold. The House also redefined “child” as an eligible boy or girl …up to age 25. While America’s economy clings from a ledge, Democrats dance on its fingertips. When the donkey party promises “change,” it delivers — good and hard.

Should the Government bail out financial institutions and people who borrowed more than they can handle? Houses are expensive. I have owned 5 of them. It has been a while since I owned one. I now believe renting is better. But when I did own one, my mortgage payment could not be more that 25% of my gross income. Now, it doesn't take a rocket scientist to see that most people cannot qualify according to this criteria for a simple $150,000 house. And house prices are a lot higher than that in other parts of the country. Therefore "creative financing" somehow has allowed people to buy a house who cannot afford it. And when payments escalate, foreclosure is all too frequent. Now we have a situation where the lenders knew it would not work...and people who borrowed the money should have known that there is no free lunch. NOW .. the Government is taking YOUR money and MY money and GIVING it to these people?? Am I missing something? I got in over my head once to the tune of 6 figures .. but I paid it off with no help. That is what I suggest now .. NO HELP. Sink or swim .. do you agree?

Explain to me why Communism is bad? It seems the US government has demonized Communism and instilled a hatred of it to people who do not have a full understanding of what Communism is. They just "know" Communism is bad. It seems to me the Communist/Socialist system evens out everything. Under a Capitalist society, people will be left behind. The rich get richer, and the poor get poorer. If you ask me, Capitalism is more evil than Communism. Look at the housing market in the US now. People are losing their homes to foreclosure.

Do I owe the government $50,000??? This is a deadly serious question!!! I recently had a house that went into Foreclosure last year. Just last month I received a 1099 in the mail saying that I had abandoned the house (which I never lived in and bought at non-owner occupied) and the form said that what I owed was $447,000 and the value of my house is only $400,000. I know I have to show this to my tax preparer when I go to do my taxes and I'm so scared because I need to know if I'm going to have to pay the difference to the IRS??? HELP ME!!!!!

Whats up with this depression we are in and why do people continue to ignor it like its not happening .? Savings are non-existent , housing prices are falling , 300,000 people a week are filling for un-employment , foreclosures have reached epic proportion , and the resources of this nation are stretched so thin we must barrow from other nations to stay afloat . So I ask why is it that no one in the media or the government is addressing this problem and doing everything possible to deny any and all claims by the people that we have a major problem on our hands .

Why vote for the Repub when the Economy has hit rock bottom, does that not reflect the Government? I live in Orlando"no.1 tourist spot" in America and I work in an attraction park,it has become a Ghost town, the vacancy report in my hotel is 70% for Easter,...last year it was Sold OUT in Jan.! The stock market went down over 350 points last week, it took a crash same as after 9/11 and the dollar has reached a new low yesterday, and will continue to decline according to economics on Cnn ! On my block which is in a decent neighborhood, 7 houses are in foreclosure, and the car lots are filled up with re-possessed cars! What next? Sorry we were in surplus in the Clinton years, !

Am I protected under the anti-deficiency statute law in California if i defaulted on my mortgage? I'm one of those unfortunate homeowner who purchased a home during the boom and also got one of those adjustable mortgage. I've been paying my mortgage on time and am not behind on my payment whatsoever. But my payment will start adjusting in a few months and the value of the house has taken a dip and I was told if I want to refinance my current mortgage, I would need to come up with the differences in order for my bank to refi. So my question is this, if I'm not able to come up with the money does that mean I cannot refinance? Am I shit outta luck? I've been responsible for my debt and I got screwed over my loan because my former loan officer did not disclosed those critical terms and loan details. On the closing day at the escrow office, my former loan officer wasn't even there at the signing. She told me just show up and sign the documents and I was naïve and I did it. Do I have a case against this loan officer if I plan to sue her? The bottom line is, if I stop making payments and eventually foreclose the house, does the bank has the right to come after me for the differences that didn't satisfy the loan because of the anti-deficiency statute in California? Am I protected under that law? The house is my primary residence and it has never been refinanced. My current loan is an 80/20 piggy back loan, with a 2yr fixed/adjust every 6 months. I'm just worry that the bank will come after me for the differences if I do foreclose on the loan. Any suggestions? Ideas? Alternatives? Is there any way I can avoid foreclosure? Any government agency I can turn to for help? I'm very stressed out so please advice! Thank you!

How can we eliminate Home Owners Associations? Hi Team, How can we remove the powers of Home Owners Associations? Can we simply declare these businesses or private governments as unconstitutional? HOA living micromanages homeowners lives and forces them to comply to often times ridiculous minutiae like "House trim must be painted beige, not ivory or eggshell", under threat of foreclosure. We have folks in our neighborhood being fined for the color of their basketball post, parking a brand new pick-up in front of their home, hanging clothes out to dry, the color of their windows, the height of their shed, etc.

Concerning home foreclosures question? If I understand this, the government is now stepping in and helping out by lowering interest rates, and other things. This is for people to be able to keep their homes. My question is this...What about the people who have ALREADY lost their house? Are they going to be getting any help to get their home back, or are they just going to be out of luck? Thanks.

Homeless shelter questions and help ideas? Might be facing foreclosure, have disabilities from worker comp that prevents me from getting jobs that I know how to do. Been applying everywhere, even places I shouldn't work at in a small town and still not getting any replies for being hired. Have no car and cant drive. Are homeless shelters safe? is there any government program that can help me ? I dont own the house living with my uncle.

The Government-Created Subprime Mortgage Meltdown? The Government-Created Subprime Mortgage Meltdown by Thomas J. DiLorenzo by Thomas J. DiLorenzo DIGG THIS The thousands of mortgage defaults and foreclosures in the "subprime" housing market (i.e., mortgage holders with poor credit ratings) is the direct result of thirty years of government policy that has forced banks to make bad loans to un-creditworthy borrowers. The policy in question is the 1977 Community Reinvestment Act (CRA), which compels banks to make loans to low-income borrowers and in what the supporters of the Act call "communities of color" that they might not otherwise make based on purely economic criteria. The original lobbyists for the CRA were the hardcore leftists who supported the Carter administration and were often rewarded for their support with government grants and programs like the CRA that they benefited from. These included various "neighborhood organizations," as they like to call themselves, such as "ACORN" (Association of Community Organizations for Reform Now). These organizations claim that over $1 trillion in CRA loans have been made, although no one seems to know the magnitude with much certainty. A U.S. Senate Banking Committee staffer told me about ten years ago that at least $100 billion in such loans had been made in the first twenty years of the Act. So-called "community groups" like ACORN benefit themselves from the CRA through a process that sounds like legalized extortion. The CRA is enforced by four federal government bureaucracies: the Fed, the Comptroller of the Currency, the Office of Thrift Supervision, and the Federal Deposit Insurance Corporation. The law is set up so that any bank merger, branch expansion, or new branch creation can be postponed or prohibited by any of these four bureaucracies if a CRA "protest" is issued by a "community group." This can cost banks great sums of money, and the "community groups" understand this perfectly well. It is their leverage. They use this leverage to get the banks to give them millions of dollars as well as promising to make a certain amount of bad loans in their communities. A man named Bruce Marks became quite notorious during the last decade for pressuring banks to earmark literally billions of dollars to his organization, the "Neighborhood Assistance Corporation of America." He once boasted to the New York Times that he had "won" loan commitments totaling $3.8 billion from Bank of America, First Union Corporation, and the Fleet Financial Group. And that is just one "community group" operating in one city – Boston. Banks have been placed in a Catch 22 situation by the CRA: If they comply, they know they will have to suffer from more loan defaults. If they don’t comply, they face financial penalties and, worse yet, their business plans for mergers, branch expansions, etc. can be blocked by CRA protesters, which can cost a large corporation like Bank of America billions of dollars. Like most businesses, they have largely buckled under and have surrendered to their bureaucratic masters. Consequently, banks in every community in America have been forced to hold a portfolio of bad loans, euphemistically referred to as "subprime" loans. In order to compensate themselves for the added risk of extending these loans, many lenders have increased the lending fees associated with mortgage loans. This is simply an indirect way of doing what banks always do – and what they must do to remain solvent: charging effectively higher rates of interest on riskier loans. But this is discriminatory!, complained the "community organizations." Thus, if one browses the ACORN web site, one can read of their boasts of having "predatory lending laws" passed in numerous states which outlaw such fees, prohibiting banks from protecting themselves from the added risk involved in making forced loans to "subprime" borrowers. These are price control laws, and price controls always cause shortages. Normally, banks would respond to such laws by extending fewer riskier loans. But in this case the banks are forced to continue making the marginal loans by their bureaucratic masters at the Fed and the other three federal bureaucracies mentioned above. So-called predatory lending laws therefore force the banks to "eat" the losses. This is undoubtedly a contributing factor to the bankruptcy of dozens of mortgage lenders over the past year. Then of course there is the issue of the Fed’s monetary policy having created the housing bubble, characterized by a spectacular escalation of real estate values in every American city over the past decade or so. This created a further problem for the financial institutions that are victimized by the CRA. They are forced to make a certain amount of bad loans, but because of the Fed-created explosion in housing prices, many thousands of subprime borrowers no longer qualified, by a long stretch, for conventional mortgages based on their incomes. The only way these borrowers could qualify for their mortgage loans (even ignoring their bad credit ratings) was to take out adjustable rate mortgages, some of which had astonishingly low first-year rates in the 3 percent range, and sometimes lower. This is what has largely fueled the subprime mortgage meltdown – the inability of thousands of subprime borrowers to afford their mortgages now that their rates have adjusted upward. Thus, the combination of the Fed’s enforcement of the CRA (with the help of political pressure groups like ACORN) and its post 9/11 monetary policy in general are the reasons for the bursting real estate bubble and the "subprime" mortgage meltdown. Don’t expect to read about this in the "mainstream media," however, which generally views groups like ACORN as heroic champions of the poor, laws like the CRA as anti-discrimination laws, and places all of the blame for the subprime mortgage meltdown on greedy capitalists, especially mortgage brokers. Encouraged by such reporting, the odious Senator Charles Schumer of New York has promised federal legislation that will reign in these miscreants, while the Bush administration is proposing an indirect bank bailout by having the Federal Housing Administration cover many of the bad "subprime" loans. This will create what economists call a "moral hazard" by encouraging even more bad loans to be extended in the future. Every banker in America will be glad to extend loans (at high rates of interest) to the most uncreditworthy borrowers if he thinks there is no possibility of default with the FHA effectively guaranteeing the loan. September 6, 2007 Thomas J. DiLorenzo [send him mail] professor of economics at Loyola College in Maryland and the author of The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, (Three Rivers Press/Random House). His latest book is Lincoln Unmasked: What You’re Not Supposed To Know about Dishonest Abe (Crown Forum/Random House).

tax foreclosure house? i kind of understand that this means they take away homes from people who cant pay the mortgage, and the government wants the tax. then they auction them for only a couple hundred dollars plus the taxes which are only a couple thousand. so do they really sell these houses for under $1000 because when i look they cost normal price. how can i find the cheap houses.

Where are people going to live when rent keeps going up? I live in Northern Virginia and probably one the most expensive places to live. I am a college student and think about my future a lot once I graduate. The thing is where are people going to live in the next 3-4 years from now when apartment rent, house market value, and other things just keep going up? Lately I've been hearing about foreclosures and the house market plummeting. What about the low-income families? Does anyone think about this? I know I am not the only one. Many you might say go to the politics and government sections but I thought I post my comment in this section. Can I get some feedback please. Thanks a lot.

Do you lose your donwpayment if you foreclose on your house? Hi - may be a dumb question but here goes. I am trying to save $50,000 for a downpayment on a two family in New York. (I can hear you laughing because everyone knows that it won't be much of a downpayment). Say a few years pass - and something occurs in whi ch I can't pay for the mortgage payment anymore. Do I lose the $50,000 I paid toward the principal if I lose the entire house to foreclosure? I know this sounds dumb...but I am trying to figure out if it is simply better to save my money in a government bond, and just rent for the rest of my life! The world economy is looking more sour by the day - and doesn't seem to be easing up any time soon. Thanks.

If a house is already starting the foreclosure procedure does that mean that there is NOTHING that can be..??? done to stop it??? If this is true, does that mean it is ONLY true for New York State, or what does that mean???? Frankly these laws for that are so F*CKING STUPID AND I AM STARTING TO HATE THE U. S. GOVERNMENT!!!!! Does anyone else feel the same way I do also???

When are they going to listen and how do we make them listen? Our government leaders have become over the last 30 years the worlds worst terrorists! Now with over 400 billion dollars spent in Iraq, bottles of wine auctioning off for over 200 thousand dollars, people loosing their houses in foreclosure again, the homless, starving, uninsured, populations all growing, and at a rapid rate. What are we to do? How do we control our governement instead of it controlling us? Thanks but dont bother saying VOTE that doesnt work because we only get to VOTE for the canadates that they choose for us to vote for! HELLO! Leogirl you need to do some more research I think you are too young to even begin to understand what this country was like when it was good! And come on you really think a bottle of wine is worth over $200,000 when there are people in this country with out homes, food , health care, and more , you are as out as balance as our country is hence you opinion! People are loosing houses because the lending institutions are whores and will over loan and put people into negative amortization loans without blinking an eye because they gain from such bad ass loans that sink people! Leogirl, your right on now and back then life was more about family, not money, the average work week was 40hr not 60+ and life wasnt about how few tax right offs we have or the return on your money, mom and pop stores were everywhere and the banks cared about their clients, it wasnt so much what your then who you were. AJH no the government does not directly make people loose their houses unless through eminent domain. The government needs to tighten up on the ever strong and one of the largest lobbying buisnesses there is Banks and stop them from taking advantage of people in the name of profit through set up loans that can get anyone under in the right circumstances. Plus when people get introuble wouldnt it be better to cut your profits a bit so people wouldnt loose all of theirs plus now broke and bankcrupt have to pay more for everything including auto insurance because they have bad credit. Not to mention background checks for employement now do credit checks hence no job either. Enough on the 10-15 year punishments!

Freddie Mac and Fannie Mae. Was the mistake taking it out of the hands of the federal government? ... when it was privatized, mortgages became plentiful, no matter what a person earned. $30,000 a year maintenance men were obtaining 400,000 homes. Then the rates changed. $1800 a month mortgage payments became 4,000 a month payments overnight. Looks as though Fannie Mae and Freddie Mac will revert back to its original owners. The federal government. So. 1 out of 500 homeowners in the United States are facing foreclosure. In a few years, those "400,000.00 homes' will only bring 250,000.00 on the market. Does anyone see a rebound in the housing market anytime soon? And will builders just build more apartments to accommodate those who have or will lose their homes? .. ... dude I never said they were privatized by the bushes.. privitization bought out Mac and Mae. Then they got greedy...hence thei basically 'going out of business;' and DAR: quit assuming. I'm not even sure what the bush/Paulson plan is, and could care less. I just asked a few questions. .. ...

Help!!!! Please help me!? My uncle is dying. He has cancer and he has exausted every means of help for medical expenses. The government has even taken his tax check from him because of medical expenses. His house is in foreclosure because he was going to catch up with his tax check. He even received a letter from the senator, saying that there is no more help for him in the system. After all the chemo, it killed the cancer off. Well now he has a cancer on his liver and he would need more chemo to kill that and prolong his life. Does anyone know of any NON-Government agency that would help even if it was just to pay for his house so he dont lose it? Does anyone know of anywhere I could direct him to go?

What do you think of this scenario? We're on a fixed income.......namely, social security. Therefore we're dependent on that monthly check from Uncle Sam. We're still paying the mortgage on a house that's about half paid for. If the entire economy were to collapse, the dollar were to become worthless, and the US government were to go broke, would our house be foreclosed on? And if it were, would the banks actually kick us out, or would the foreclosure be more of a formality on paper? After all, if this whole worst-case scenario were to happen, the chance of them re-selling the house would be slim to none. I know it's not likely, but IF it happened.

How Can Bush Be Responsible for YOUR failures? I am soooo SICK of listening to the uninformed rant about everything being the Governments fault... So lets get something right: The "foreclosure" rate is going through the roof in many states... You know why? No, silly.. Not because of Bush. Its because the Greed and Entitlement mentality of the average American. Many got into interest only loans so that they could buy a house they otherwise cant afford. Now the the party is over and they need to lock in a rate or need to start paying principle and interest, they can't do it. They surely can't do it and make payments on the car they leased or the 15 k in credit card debt they (not Bush) ran up so they could keep up with The Jones. Next, during the housing boom of the last 3 years, so many properties were bought by people trying to flip them. These people got in over their heads... bought at the top of the market.. and are now stuck with properties they cant afford. So, lets stop blaming Bush!

Why cant our government listen to logic? If our congress put aside a federal law for 2 years for banks to be allowed to lease all homes near or in foreclosure for 1/2 price of payments, also mortgage companies to and lock down all credit cards at 12% and accept payments at normal payment price at todays date 2007. then our economy would change for the better. all home owners would pay the taxes, ins. upkeep and after 2 years all payments would resume at normal payments. homeowners win, banks win, all mortgage co.'s win also. they each get rent for 2 years then back to normal. this way the homeowner can pay off credit card debts by making doubling payments, since your renting for 2 years at half price. as is hfc is the wrong way to go. if you get a raise at work it goes to your house payments, instead of normal needs. I SUGGEST YOU WRITE YOUR BOOK SOMEWHERE ELSE, JUST A SHORT VERSION TO COMMENT ON THIS QUESTION IS CALLED FOR the stemulous package is a $300 to $600 check. people are loosing their homes, rather than loosing their homes they could lease their homes at half price, so they can wipe out their credit cards since it would be half payment from 2007, not 2008. responsible people would do this. click this= http://www.socyberty.com/Activism/First-Step-for-the-Solution-to-Global-Warming.103109 if you start a salvage co and do the first step, you may get rich from under the sand, India found a old stone building in the sand near the beach and ships for the last million years have been beached or storms have sunk them so you a honest job and help to delete global warming at the same time. you may even get a grant for the cost, who knows.