Upcoming Foreclosures

Biggest jump in foreclosures in 5 years - is Bush to blame for this, too?

http://news.yahoo.com/s/ap/20100415/ap_on_bi_ge/us_foreclosure_rates Foreclosure rates surge, biggest jump in 5 years ""We're right now on pace to see more than 1 million bank repossessions this year," said Rick Sharga, a RealtyTrac senior vice president." OK, so is Obama to blame yet?

Public Comments

1. Yes. He ruined the Economy, but President Obama is doing all he can to fix it. President Obama started a program to allow people to stay in their houses, while they are trying to find a job. I don't know why more people do not take advantage of this program.
2. Obama and Bush , the Federal Reserve , IRS , Congress , International Bankers
3. No, this is still the fallout of the Bush regime.
4. What you are seeing today is nothing more than the other shoe dropping, the majority of the upper middle income folks have exhausted their savings, many retail stores are closing. Have you sent your thank you card to bush in Dallas yet?
5. Obama, he has had over a year to get people back to work and to work on our National Debt, and when our National Debt is at Record levels that means production is down and that means people are out of work. However he is planning on spending more money, he is making Arm Deals that we will pick up half the tab for, and he is going on useless oversees trips when our nation is falling apart, it is long past due to hold Obama accountable and demand him to get to work HERE in America and stop bowing to every knee jerk third world leader who rings his phone.
6. It actually goes back to Clinton... but the very beginnings go back to the 70s.
7. Yes but more to the point the people he was spokesman for which it turns out are pretty much the same as the ones Obama now speaks for... We are on the exact same trajectory as the '29 to '39 recession that only double dipped and turned into a depression half way through or where we will be in a year..
8. The nothing down and low cost mortgages (sub-prime) was a democrat program that started back in 2007 shortly after they took control of the house. Sponsored by Christopher Dodd D-CT. S. 2338, the FHA Modernization Act of 2007, would enable the FHA to respond to the needs of borrowers and play an important role in stabilizing the mortgage markets. To help alleviate the housing downswing in 2007 and allow the Federal Housing Administration to insure mortgages for more home owners, the Senate approved legislation that would improve the capacity and flexibility of the FHA to serve the credit needs of sub-prime and other challenged mortgage borrowers. The bill passed by an overwhelming 93-to-1 margin. McCain was the only one who did not sign on the bill. Subprime lending (near-prime, non-prime, or second-chance lending) in finance means making loans that are in the riskiest category of consumer loans triggered a dramatic rise in mortgage delinquencies and foreclosures. This sub-prime lending program was the major fuel to the fire that accelerated the rescission. The effects that Democrat Sponsored S. 2338 had on the economy are still being felt today and has not bottomed out yet with more foreclosures in sight.
9. No, Bush is to blame. Course, if you don't know ANYTHING about economics - maybe you believe otherwise. You'd be wrong.
10. Actually we should be blaming any liberal and socialist president that has come before Obama, they paved the road and Obama is running people over all the way down it.
11. The real blame is on the people that took out the loan.No one forced them to buy a home and have no cash reserves in case of emergency.So it's pay up or get out in the real world that is how it is supposed to work.