bigpeepa
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posted on January 22, 2007 01:56:57 PM new
Foreclosure rates up big in December
By Les Christie, CNNMoney.com staff writer
January 17 2007: 4:29 PM EST
NEW YORK (CNNMoney.com) -- Americans continue having difficulties paying their mortgage obligations, with December foreclosure rates above the 100,000 mark for the fifth straight month.
The number of homeowners entering into some stage of the foreclosure process in December was 109,652, down 9 percent from November but up 35 percent from December 2005, according to RealtyTrac.
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Adjustable-rate mortgages, especially subprime ARMs, continue to drive the spike in foreclosures: many of those loans are due to reset in 2007, and many of the loans written in 2006 are performing less well than in previous years.
"The combination of slower home sales and rising interest rates on ARMs continues to drive foreclosures at significantly higher numbers than a year ago," said James J. Saccacio, chief executive officer of RealtyTrac.
Texas led the nation with more than 14,000 households entering into some stage of foreclosure.
500,000 American families in just 5 months either lost or are losing their homes. I am betting not very many in the top 2% that BUSHY gave all the money to have lost their homes.
REMEMBER WHEN LIAR_K WAS BRAGGING ABOUT ALL THE HOME BUSHY MADE AVAILABLE. LOL
Go here to see how your state is doing.
http://money.cnn.com/2007/01/16/real_estate/December_foreclosures_up_from_2005/index.htm?postversion=2007011716#table
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Linda_K
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posted on January 22, 2007 02:03:31 PM new
Yep...there are a ton of Americans who appear to be unable to take personal responsibility for how much they get over their heads, financially.
This administration nor this President held a gun to their heads and told them to overspend....told them to act irresponsbility. They did that ALL by themselves.
The economy is good...unemployment is still down...and average hourly wages are still increasing.
Maybe they all need to take classes on using budgets...and recognize they can't spend more than they make. Pretty simple for most Americans to do.
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bigpeepa
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posted on January 22, 2007 06:59:40 PM new
REMEMBER WHEN LIAR_K WAS BRAGGING ABOUT ALL THE HOME BUSHY MADE AVAILABLE. LOL
Just one more thing LIAR_K bragged about that has come back to bite her in the azz. LOL
[ edited by bigpeepa on Jan 22, 2007 07:01 PM ]
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ST0NEC0LD613
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posted on January 23, 2007 10:31:24 AM new
Here is the bigdopa, calling someone else a liar when every single word he just posted is his little own lie.
It wasn't Bush that told the morons to over spend. It wasn't Bush that told them to get adjustable rate mortgages. It was the demomorons that blocked legislation to not allow interest only loans.
Bigdopa, when you get your facts straight..... Ok, that was my mistake. He will never get his facts right.
.
.
.
"Unfortunately there are levels of Stupid that just can't be cured!!" The current Demomoron motto.
 Are YOU a Bunghole?
Take the bunghole quiz here.
http://www.idiotwatchers.com/bunghole/index.html
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Linda_K
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posted on January 23, 2007 10:49:26 AM new
I don't see him ever doing that either. 
Plus no where does he list just who are the ones filing for foreclosure. tsk tsk tsk
There were also many speculators in the housing market...buying several homes for investment purposes.
Many buying homes renovating them for resale...then got caught with too many when the market started slowing down.
Plus this President HELPED put more Americans into homes than any before him.
Now? That's supposed to be a BAD thing? 
Nope....'waco'peepa will NEVER have his facts straight....he just likes to blow more and more hot air.
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Bear1949
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posted on January 23, 2007 11:12:54 AM new
Its called living within your means.
The low interest Balloon notes suckered many into more home than they could truly afford.
"When I talk to liberals, I don't expect them to understand my positions on various issues. I spend most of my time trying to help them understand their own." —Mike Adams
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Linda_K
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posted on January 23, 2007 11:51:14 AM new
I agree, Bear.
And the same irresponsibility can also been seen by looking at how much DEBT Americans have put on their credit cards too.
Some just have no sense of responsibility and WANT more than they can AFFORD.
What's that old saying??? 'Champaign desires, beer money'. Something like that.
People have to learn to live within their means....NOT think they 'deserve' everything they want.
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bigpeepa
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posted on January 23, 2007 12:29:56 PM new
Its called making unrealistic money available or pumping up a false housing market. Then blaming the victims with the poop hits the fan. Just another new-con worn out trick.
The good new is the new-cons have lost most of their power and we have them surrounded watching their every move.
By the way Bear Texas has the highest number of foreclosures in the entire country.
My state of Pennsylvania got hit hard with all the jobs it lost to outsourcing.
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Linda_K
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posted on January 23, 2007 12:51:39 PM new
Oh sure....again supporting the belief that individuals don't have control over their own spending. LOL LOL LOL
It's the gov. fault.
Guess they don't know how to say, or apply, "I CAN'T AFFORD THAT."
give me a break. No one forced ANYONE to SEEK OUT loans. THEY did it ALL by themselves. get a clue, PLEASE.
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Bear1949
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posted on January 23, 2007 01:25:27 PM new
ts called making unrealistic money available or pumping up a false housing market. Then blaming the victims with the poop hits the fan. Just another new-con worn out trick.
In your dreams. If you cannot afford the payments, dont make the purchase. WHATEVER THE INTEREST RATE.
"When I talk to liberals, I don't expect them to understand my positions on various issues. I spend most of my time trying to help them understand their own." —Mike Adams
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desquirrel
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posted on January 23, 2007 08:24:41 PM new
It too bad Peepa was probably ranting on about "neocons" or other blatherings when I commented about his a year or more ago. The housing cycle started to turn then and my broker was laughing about all the dopes buying houses they couldn't afford, counting on selling them for a third more than they paid.
Do these idiots read ANYTHING but the world according to Soros?
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