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Foreclosures

August 25th, 2007 at 03:53 pm

I found this article in my local newspaper and thought it was a very interesting read:
http://www.showmenews.com/2007/Aug/20070825Busi004.asp

Of course, I figured the rate of foreclosures was up, but I didn't realize by how much. And this is a town with a fairly stable employment pool, so there haven't been big layoffs or anything of that nature feeding this.

I also found it interesting that the representative from the banking association points to sub-prime lenders as the problem, not reputable commercial banks, and yet 20 out of the 35 foreclosures in July in my county were by traditional banks.

I can't believe people can live with such filth. I guess when you realize you're losing your house, you just don't give a hoot anymore.



Posted in Uncategorized | 3 Comments »

3 Responses to “Foreclosures”

  1. Mea Culpa Says:
    August 25th, 2007 at 04:46 pm

    I'm in property management and have seen some things even worse than trash. I once had to evict someone for non-payment of rent and it took almost three months to do so. Once he was evicted we did a walk-thru inspection of his duplex and found that apparently his commode had stopped working at some point so he used it until it was full and then he started using the bathtub and it was filled with feces. Pretty disgusting. I can't understand how some people can live like that either but somehow they manage to.

  2. Amber Says:
    August 25th, 2007 at 05:51 pm

    When ever I read the paper (which is daily) the entire front page is inundated with foreclosures articles. I wish I had my ducks in a row, I could have bought a few properties

  3. paulettegoddard Says:
    August 25th, 2007 at 07:27 pm

    ...sub-prime lenders as the problem, not reputable commercial banks, and yet 20 out of the 35 foreclosures in July in my county were by traditional banks.
    It's true that many traditional banks do own not only subprime lending businesses but payday advance/check cashing outlets too. They only want to APPEAR as if they lend under conservative terms only.

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