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POPSNevada, Arizona & California Top Country's Foreclosure Filings
Once it starts to go over the cliff, it's gone." In other parts of the country, the foreclosure wave was barely a ripple — at least until it started swamping major banks that had invested heavily in mortgages. Banking giant Wachovia Corp., for example, was hammered after California and Florida customers of one mortgage firm it bought began defaulting at high rates. The risks of such lending were spread so broadly among financial institutions that, when the loans went bad, it drove the national credit crisis, says Christopher Mayer, who studies real estate at Columbia Business School. The Obama administration on Wednesday detailed a $75 billion plan to keep more homeowners from slipping into foreclosure by helping them refinance loans or reduce their monthly payments. But that effort could face political challenges because most of the foreclosure problem has been so concentrated in a few areas, says Brookings Institution researcher Alan Mallach.
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POPSMcCain Advocates Communism in Debate; Homeowner Bailout Taxpayers to bailout defaulting homeowners? Let's take 300 of that billion and go in and buy those home loan mortgages and negotiate with those people in their homes, 11 million homes or more, so that they can afford to pay the mortgage, stay in their home. Then, he even ADMITS the criticism, how is that fair to responsible homeowners, that have to pay for the bailout of others who did not make their payments as contracted? Now, I know the criticism of this. Well, what about the citizen that stayed in their homes...That paid their mortgage payments? It doesn't help that person in their home if the next door neighbor's house is abandoned. And so we've got to reverse this. We ought to put the homeowners first. McCain advocates communism, which the dictionary defines: a system in which goods are owned in common and are available to all as needed For a Vietnam Vet fighting communism to advocate thi
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