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CD
LOL..it's Bushes fault again~
posted by
Offy
on April 23, 2007 at 7:59 AM
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this happens every day -- low income, low education people get screwed
that's the whole thing --- probably the home wasn't selling on the regular market -- so here comes a bunch of people to take advantage of.
the real estate co. probably figured on a few months of payments then to have to forclose and go on to the next sucker.
i've seen this happen in St. Louis, where people who don't know any different are suckered into putting their life savings into houses where they couldn't afford the payment plus the upkeep, which was the biggest expense because the houses were old.
the famlies are victims -- and yes they do need to be educated as to what their own budgets can afford -- but look around you -- there aren't too many people who live reasonably within their budgets -- and there is an upswing in forclosures.
source: needing to inflate figures so as to not have a decline in new home (or whatever) sales on the stats -- or to make the economy look better than it really is -- then when people, from families like this clear through the (fast dwindling) upper middle class have to default on their mortgages -- an explosion in foreclosures.
thank Bush for such a blockbuster economy
posted by
Xeno-x
on April 23, 2007 at 7:53 AM
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Corbin
things are getting curioser and curioser...
posted by
Nautikos
on April 23, 2007 at 7:18 AM
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