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Hard Times Are Getting Harder: Why The Silence?

Hard Times Are Getting Harder: Why The Silence?


WHO IS TALKING ABOUT WHAT MATTERS?

Aren’t job losses and foreclosures as important as a “Ground Zero Mosque” (that has not been built, isn’t a mosque or even at ground zero?)

By Danny Schechter, Author of The Crime Of Our Time

We know we live in hard times that are on the verge of getting harder with 500,000 new claims for unemployment last week, a recent record. The stock market may be over for now as fear and panic drives small investors out. Big corporations hoard stashes of cash rather then hire workers.

Foreclosures are up, and the Administration’s programs to stop them are down, well below their stated goals, only helping 1/6th of those promised assistance.

And here’s a statistic for you: 300,000. That’s the number of foreclosure filings every month for the past 17 months. This year, 1.9 million homes will be lost, down from 2 million last year. Is that progress? In July alone, 92, 858 homes were repossessed.

At the same time, the number of cancelled mortgage modifications exceeded the number of successful ones. According to Ml-implode.com, last month, “the number of trial modification cancellations surged to 616,839, greatly outnumbering the 421,804 active permanent modifications.”

The Treasury Department admits its HAMP program did not meet expectations but justifies it on the grounds that it gave homeowners lower payments—thatr is, until they were tossed out of their homes. Critics call this “extend and pretend.

And don’t think this is only a problem that affects the homeowners about to go homeless. The New York Times quotes Michael Feder, the chief executive of the real estate data firm Radar Logic to the effect that we are all at risk.

“My concern is that if we have another protracted housing dip, it’s going to bring the economy down,” Mr. Feder said. “If consumers don’t think their houses are worth what they were six months ago, they’re not going to go out and spend money. I’m concerned this problem isn’t being addressed.”

The larger point is that even if you believe the economy is already down, it can go lower. No one knows how to “fix it” either just as BP couldn’t plug the “leak” that, truth be told, is still oozing oil, and is 650 feet in scope.

So what are we doing about it? Are we demanding debt relief or a moratorium on foreclosures? Are we shutting down the foreclosure factories

Continue Reading…NewsDissector

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in conspiracy, CONTROL FRAUD, corruption, Danny Schechter, foreclosure, foreclosure fraud, foreclosure mills, foreclosures, geithner, goldman sachs, hamp, investigation, Moratorium, mortgage, Mortgage Foreclosure Fraud, mortgage modification, Real Estate, Wall StreetComments (0)

Florida woman files BP claim over botched home sale

Florida woman files BP claim over botched home sale


We all saw this coming…and so did they.

By Grace Gagliano | Bradenton.com

The island resident had her two-bedroom house on the market for about two years before buyers came forward with an offer she was willing to accept.

Then, the unthinkable happened. The buyers walked.

“In my contract, the reason they stated they were not going to close on the home was the BP oil spill,” said Dickinson, whose beachfront home is listed for $848,000. “I was supposed to close my home on May 17, and May 7, the buyers walked away. Every month I’m here in my home past May 17 it’s an economic damage.”

Dickinson said she filed a claim with BP but has gotten the “run around” from the company on whether it has been reviewed. She declined to say how much money she is hoping BP will pay.

Dickinson’s case appears to be a rare instance of the oil spill threatening local property sales. And, while Manatee County remains free of tar balls and sheen, island Realtors say the Deepwater Horizon spill has sparked concern among buyers.

“About 40 percent of the people that call in mention or ask about the oil spill,” said Liz Blandford, a sales agent for Island Real Estate. “They’re worried. I think people who don’t live here when they watch the news they make the assumption that oil’s covering our beaches. We’re just trying to let them know our beaches are clean.”

Still, Blandford said a few buyers have delayed purchase decisions.

“I think there is a real concern that the values can still drop,” Blandford said. “That’s why I think a small percentage of buyers are holding back, hoping prices will still drop.”

At Fran Maxon Real Estate, Stephanie Bell said the oil spill hasn’t led to cancellations on property purchases nor on vacation rentals listed with the Anna Maria real estate agency.

© 2010-15 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Posted in Real Estate, walk awayComments (0)


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