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1 in 10 American Homeowners either Late on Mortgage or in Foreclosure
- Text size
Alan Zibel
Associated Press
December 5, 2008
A record one in 10 American homeowners with a mortgage were either at least a month behind on their payments or in foreclosure at the end of September as the source of housing market pressure shifted to the crumbling U.S. economy.
- A d v e r t i s e m e n t
The Mortgage Bankers Association said Friday the percentage of loans at least a month overdue or in foreclosure was up from 9.2 percent in the April-June quarter, and up from 7.3 percent a year earlier.
Distress in the home loan market started about two years ago as increasing numbers of adjustable-rate loans reset to higher interest rates. But the latest wave of delinquencies is coming from the surge in unemployment.
Employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, the Labor Department said Friday.
“Now it’s a case of job losses hitting more across the board,” Jay Brinkmann, chief economist of the Mortgage Bankers Association.
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December 5th, 2008 at 2:08 pm
They should have taken the damn trillion dollars and split it amongst the American people. Yeah, socialistic, but that’s better than authoritarian corporate socialism and fascism. The economy may have actually improved as people didnt worry about losing their FUCKING HOUSES!
December 5th, 2008 at 2:26 pm
LOL,
How many does it take before they tell us we are sliding into a depression??
How many does it take before they realize they got burned!!
They thought they were going to make a killing loaning us money for over-priced homes.
But then the money stopped coming in. They took the money through TARP.
Instead of using that money to get the economy going by loaning again.
They chose to profit more by acquiring other firms.
In their minds, they will get the money from Congress if we don’t pay.
But since you blamed us for this problem, maybe we should start to take the blame and admit we scammed you!!!
We are going to not pay double for a house worth half.
And if you keep taking our money we will stop paying taxes and default on all the loans.
Then you can have the debt and the house.
Let the Banksters have their cake and eat it too.
What this article says to me, is that 1 out of 10 Americans are giving up on the carrot and telling them to shove it.
December 5th, 2008 at 2:54 pm
Don’t worry Obama and Clinto will solve all of our problems. God bless Obama
December 5th, 2008 at 3:07 pm
the media and state must act purposefully late or something.. people have been saying this shit would happen forEVER.. i saw an article today on yahoo news says “Bush acknowledges recession”.. wtf.. People should quit being pussies and stand up for ourselves.. doesnt necessarily have to be violent we should just organize to become self sufficient and help each other out.. quit relying on the economy! withdraw from it and let that sht collapse.. make a new one.. when that happens then we can reject the authority of the old state and create a new one.. based on the old constitution but close the loopholes.. leave no potential for income tax or allowing corporate cartel oligopoly-monopoly or whatever you want to call it.. if we cant learn to work together this corporate neo-feudal system will enslave us..
“The reversal of peace, murder in the first’ll increase, snake police state globally holdin my peeps
The rise of the 4th Reich and corporate classism, the evolution of institutional fascism”
-Immortal Tech
December 5th, 2008 at 3:48 pm
china, must kill, the usa,chnai must kill all of you, for your lies, here is my adders,the new world order,APEX157X,!!!
December 5th, 2008 at 3:51 pm
The “concept” of money is just that.. a concept.
In response to post #1 .. there is no MONEY.. just the concept of pieces of paper exchanging hands and worth only the amount that the paper and ink are valued at.
The illusion that moeny is worth anything except what the people who exchange “things” for has caught up with us. When I say “us” I mean you and me. The property that people borrow “money” against creates it’s value and property is tangible as far as forclosure and repossession go.
Many of these people bet their future against a bank note.. and now the tide is going out. The banks still have the property and can write off losses or rent the property or some other scam.. They get to write the rules(i.e. IRS, State, local tax codes etc.)
People at some point will begin to compromise their humanity for the sake of living in a house..kinda like sharecropping, where you will be beholding to the person who allows you to live under a roof in exchange for labor.. “Serfdom” is the word.
Everything is coming full circle again… and it will not change by complaining or going along with the status quo.
December 5th, 2008 at 4:30 pm
I know times are crazy and will get a lot crazier before it is over. The world banking cartel tricked us into allowing them to steal this nation blind. The houses are still on US soil. The toll roads sold to foreign nations are still on US soil. It is only a theft on paper. Yes, our paychecks are being devalued due to national debt / deficit spending inflation. The depression will be beyond belief. But most of the theft going on is in the form of getting the citizen to agree to be in debt. One revolution and all that paper debt obligations goes bye bye. They can only make us slaves if we agree to go along with it.
To this end, I think it is critical that we the people, the average citizen, go to their local national guard base and talk to the troops. Bake them cookies. Explain to them and their COs what is going on and what they will be asked to do in the near future. When martial law is openly declared and they put the troops on the street, imagine if the troops load up and knock on the doors of the senate building and the whitehouse and demand that the criminals be brought out for arrest and treason trials.
December 5th, 2008 at 4:41 pm
This affects all of us eventually. I was laid off from from my job as Log home designer/CAD designer back in July & there have been very few jobs availble, unless I want to move to Eastern Europe or New Zealand or Dubia…& I think that’s fading fast! Many of my contractor friends are either gone under or holding on by a thread! And I live in one of the “good” areas(east tn)…I have been telling my family & friends to store food, tools & raise a garden…etc…I have been aware of the coming economic callapse since the late 90’s & they used to chuckle & say “hey man be positive”…I used to listen to a former Clinton insider(admitted former accomplice on their many crimes)…Nick Guarino…He had a web show “the wall street underground” until the feds shut it down…he was indeed a criminal, but at least warned of the Fannie May & Freddie Mack debaucle! Also, he warned of the coming Depression & Communist police state, not that he was a prophet or anything, he just has first hand knowledge, being a former confidant of the “Klintons”. I knew this NWO was eventually coming since 1972…I learned about it in Church! They had been preaching about it since at least the 1930’s…when they thought Hitler could be the NWO “king”. They got it from Daniel & Revelations study…(I have found books referencing this world wide system from the 1800’s..”If” this is indeed the end time Beast System spoken of in bible,and it looks like it might be, then it will not last long before it’s crushed by that 200,000,000 man army & it’s nukes…probably Russia, china & allies…unfortunatley most of us will not be around to see it..It’s a scary time but we have to resist accepting it…do what we can to protect our families & friends!…Quit believing those fake “prosperity & new age” preachers…Things are going to get worse before they get better…we need desperately to find a truly viable presidential candidate for 2012! & START PROMOTING NOW!
God Bless…
December 5th, 2008 at 6:14 pm
John, that’s why we need to be sure we’re saved and right with the Lord.
“For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” (John 3:16)
December 5th, 2008 at 6:29 pm
Greetings,
When will this group get tired of whining about how badly the ciminals at the FED & Treasury are raping us and actually DO SOMETHING? It’s time to put up or shut up. How’s this for starters, join an End the Fed group and start protesting. Then start changing your lifestyle to QUIT USING THE “SERVICES” of the MEGA BANKS. Pay off your debt. Quit using credit cards. Pay cash [even if it is fiat currency]. Reduce your taxes as low as possible [I've paid nearly 0 legally for years]. Grow your own food/produce. BE SELF SUCIFFIENT!!! Take your money OUT of the bank & stock market. Invest in REAL WEALTH when you can pay cash. Quit giving the Banksters money!
Do something or quit whining!
December 5th, 2008 at 7:04 pm
http://money.cnn.com/POLLSERVER/results/43774.html
You only have to look at this link for 10 seconds. It is the difference between what 50,000 PEOPLE say, and what the government says.
almost 50,000 votes. have you or someone you know lost their job? 70% say YES
6.5 % unemployment my ass!
I hope Alex Jones comes across this, to me, it is interesting.
December 5th, 2008 at 7:29 pm
The markets are so manipulated, but like Bod Chapman says, they would not be able to hold the markets up when bad news comes up for long. Don’t get fold to jump in as “buying” but short selling is difficult in this manipulated market where the volatility is so high.
December 5th, 2008 at 8:20 pm
#10 I agree with you completely! We don’t put any more money in the bank than is needed to pay our bills. And it is a free checking account. We pay for everything else we buy with cash. We have no credit cards, no lines of credit (except our mortgage). That is how we both run our businesses also, cash, we pay up front for everything and collect by either cash or check, we do not accept credit cards of any kind. We have been doing this for almost 20 years now, and have been much better off for doing so. I just wonder when the rest will catch on?!
December 5th, 2008 at 8:56 pm
Sh*t, I know sh*t’s bad right now, with all that starvin bullsh*t, and runnin outta burrito coverings.
But I got three point plan to fix everything…
December 5th, 2008 at 9:50 pm
#15 Then why did I buy my “LAND” before i built my house?
December 5th, 2008 at 10:11 pm
#11 alex jones reported the unemployment rate btwn 12-15% back in october.
December 5th, 2008 at 10:29 pm
http://www.falsebeliefs.com
December 5th, 2008 at 11:05 pm
Many on this site say that 911 was an inside job. Is an inside job a crime? Or was 911 a crime for being an inside job? Either way this mortgage crisis, debacle, or scandal as was known when Bush’s father did the exact same real estate scam call the S&L crisis in the 1980’s, must go done as the greatest, costliest, most devestating inside job in human history.
When GHW Bush did this indentical scam involving overinflated real estate prices in the 1980’s it became the largest financial scam in human history at the time, a reported $150-$350 Billion dollars. Our current “subprime” scandal, which we are told was caused by people with no money, no credit, no jobs, no income of anykind, no verification, deadbeat losers without 2 nickels to rub together……have now caused over $8 TRILLION dollars worth of economic loss.
If that isn’t the ultimate “inside job”, then what is?
December 5th, 2008 at 11:24 pm
We need a story with the headline; “Dumb ass coward americans can’t find ass with both hands”
December 5th, 2008 at 11:32 pm
Well reply to this comment,quote:It keeps crazy customers from coming in here and shooting the place up! It proveds a little peace of mind.) well maybe you want to stop using your in humane business practices and company polices that are the root to everything that is happening now, company crap is still being pushed down peoples throats as they lose everything the governments are using the same mentality and are going on a shopping spree,greed will destroy us all soon.
December 6th, 2008 at 12:09 am
It amazes me how quick people judge others no matter the circumstance.
This is called hypocritical when you have done the same.
I’m a hypocrite, but this DOES NOT GIVE ME THE RIGHT TO JUDGE OTHER PEOPLE.
I’m also a SINNER as are all of us.
GOD IS AND WILL ALWAYS BE THE ULTIMATE JUDGE.
I also want you to think about the possibility and FACT that IT IS NOT TOO LATE TO ASK GOD FOR FORGIVENESS.
THE ONLY WAY IS THROUGH JESUS CHRIST, OUR LORD AND SAVIOR.
PRAY AND ASK FOR FORGIVENESS BEFORE IT IS TOO LATE.
We’ve all done bad things – denying GOD or JESUS, lying, cheating, stealing, materialism, manipulating others for our own gain, etc…….
The list goes on….. I’ve been there and I’ve done it. I’m still asking for forgiveness….
IT IS NEVER TOO LATE……
JESUS died for our sins, but…..
It is never too late to ask GOD for forgiveness for the things we are GUILTY of.
FAST FORWARD to our times…
STAND UP AND FIGHT FOR WHAT IS RIGHT.
We are in a battle against EVIL, but that doesn’t mean we should keep silent…..
NOT ANY MORE.
I’m NOT AFRAID BECAUSE I KNOW WHO IS ON MY SIDE AND WHO I STAND FOR…..
THEY WILL NOT TAKE US DOWN UNLESS WE LET THEM.
“IF GOD IS FOR YOU, WHO CAN BE AGAINST YOU?”
WHEN THE TIME IS RIGHT…
WE WILL STAND AGAINST THEM AND DO WHAT IS RIGHT.
WHEN YOU DIE AND STAND BEFORE GOD,
WHAT WILL YOU SAY?
December 6th, 2008 at 12:17 am
You people need to calm down and talk rationally. Learn proper english!
December 6th, 2008 at 12:24 am
1 IN 10 IRAQI HOME OWNERS ARE DEAD.
#5 Gary Gann
GO GARY GO GARY GO GARY GO. I want to have your baby. You are the shit.
December 6th, 2008 at 12:59 am
I just ate some checks mix.
December 6th, 2008 at 3:28 am
Are cookies good?
December 6th, 2008 at 3:31 am
As Alex has said many times, “God help us!”.
December 6th, 2008 at 3:37 am
wow. it has gotten to this point?
December 6th, 2008 at 5:27 am
To Bail Out the Big 3 Auto Makers is Insanity !
Who is going to buy the cars they make, they already
have miles and miles of UN-SOLD New Cars in Lots Right Now !
The Best Way to Use the Bail-Out Money, is to Give it to The American
People. That way the American People can buy a New Car, and Continue
to Pay their House Notes etc.
It is Absolute Insanity to Bail Out the Auto Makers, when there in NO ONE
to Buy the Cars that THEY MAKE !!!
December 6th, 2008 at 5:46 am
my dad just lost his job as an engineer on fishing boats. he owns 40 properties and is having trouble finding tenents and collecting rents. I told him he should sell them all k months ago and invest in gold but he thought hyper inflation would make his debts worthless. now he is trouble and listening to me. any advise for him? without a good paying job he may only be 6 months from late payments and beyond
December 6th, 2008 at 6:19 am
I’m sick of all the preachy BS people are putting,
stop telling us jesus is our only savior and god is the only tue judge, we are going to be condemed and we have to beg for forgiveness.
if we wanted to hear that crap we would could go to church.
just fuck off and read your bibles you ignorent close minded brainwashed cowards.
December 6th, 2008 at 7:16 am
Right on #31 jesus is not going to take the flouride out of the water or the melemine out of our baby formula, or pay our mortgages or give us our jobs back. there is a force out there that responds to thoughts weather positive or negative but it is based on the lew of attraction and science not judgment and condemnation created by the catholics in 1590. these are times for people to get off their nees and take action or you will get the avian flue or be taken to feema camps.
Revolution and non conformation is the only way to envoke real change.
just imagine what would happen if just 30% of people stopped paying taxes or
30% stopped paying their mortgages
the world world change fast.
We need to stop thinking about our egos and what people might think about us talking about this. We have limited time. stop thinking jesus is going to come to your rescue and prepare yourself and your familly!
December 6th, 2008 at 7:28 am
Real estate is crashing?…GOOD!,soon there will be some great deals on large lots in safe,quiet areas of north FL for me to escpae the city to.
You see,I bought gold back in ‘06 when it was $550/oz,soon I’ll be able to get a few acres for just a handfull of coins.
It’s not too late for you either.
December 6th, 2008 at 9:29 am
Pack up everything that you can and move to the woods. Stop relying on modernism and Reilly on yourselves.
December 6th, 2008 at 9:31 am
Hey #31 I beleave in GOD and go to church but I dont poor my thoughts about that subject down anyones mouth! I beleave that people also have to stand up and do for them selfs not just exspect someone or something to do it for them. I also agree that some of the things posted by others her are something BUT PLEASE dont throw use all in the pit I am not BRAINWASHED OR A COWARD!!!! I am former 82nd airborn combat VET and I would do for you as I would for anyone else. But that siad I respect your right to free speach and hope you respect my Post.I would Die for my Country and anyone on her TO JUST BE FREE weather your a beleaver or not
December 6th, 2008 at 10:54 am
Obama is more concerned about mobilizing the military to chase bin Laden than to help the millions in foreclosure. They’re all saying it will get worse before it gets better. Good thing we don’t live in a muslim culture or Obama and McCain would’ve both been rejected for being left handed. Obama may try to convince us all that homelessness is just a state of mind, not an actual reality if you want to voluntarily submit to residing in a FEMA camp.
December 6th, 2008 at 11:42 am
I’m not a bible thumper as some are. What I always remember being said was “God helps those who help themselves”. That dosent mean stand back and wait on him to help you! That dosen’t mean you have NO right to defend your life or your family’s lives. As a matter of fact I think it’s a sin for us to just stand by and let someone take another persons life and not raise a finger to help them. If you know someone wants to kill you, and you let them without lifting a finger to stop them, to me it is the same as committing suicide, your duty is to protect yourself and others as best as you can. I really dont like talking about this here, and it wont be often any of you see me write something like this. May all of you have a wonderful weekend, even if you dont agree with what I just said.
December 6th, 2008 at 12:22 pm
http://money.cnn.com/POLLSERVER/results/43774.html
6% unemployment my ass
December 6th, 2008 at 1:10 pm
38, yep if you count all those already through the unemployment line and still have no job it is way above 6%. Mr Clinton saw fit not to count those who are through the unemployment line and still have no job. From what I understand unemployment is still based this way.
December 6th, 2008 at 5:40 pm
1 in 10 IRAQI homeowners are DEAD.
Stop moaning you misserable American fucks.
December 6th, 2008 at 6:46 pm
Many on this site say that 911 was an inside job. Is an inside job a crime? Or was 911 a crime for being an inside job? Either way this mortgage crisis, debacle, or scandal as was known when Bush’s father did the exact same real estate scam call the S&L crisis in the 1980’s, must go done as the greatest, costliest, most devestating inside job in human history.
When GHW Bush did this indentical scam involving overinflated real estate prices in the 1980’s it became the largest financial scam in human history at the time, a reported $150-$350 Billion dollars. Our current “subprime” scandal, which we are told was caused by people with no money, no credit, no jobs, no income of anykind, no verification, deadbeat losers without 2 nickels to rub together……have now caused over $8 TRILLION dollars worth of economic loss.
If that isn’t the ultimate “inside job”, then what is??
December 7th, 2008 at 1:55 pm
Yeah my wife and two kids ages 3 and 5 plus one on the way will be losing our home unless we come up with the money that we are behind! Right now unemployment sucks but its something I guess! We really have no were to go so if there is anyone out there that could help us please, please do. So come Dec. 17, 08 we will have to be out and the house goes to the bank and we go to the streets. The house was built in the 1800’s so its not a 250,000 dollar house for those who are wondering. PLEASE ANYONE HELP US, PLEASE!!!!!!!
THANK YOU.
December 7th, 2008 at 4:52 pm
I dont know if anyone has mentioned this but God TV ch.365 on directv is playing Riddles in Stone a program about the secret societies, occult symbols, etc in our nation. They also are talking about alot of the same stuff Alex Jones speaks of. People are waking up in droves! If you know any religous types that might not lesten to Alex yet, these programs may be just what they need to see.
December 7th, 2008 at 5:11 pm
Poster of #31:
You sound like another hypocritical, God-hating genius! You rant and rave about “preachy BS”, then you get preachy with the christians who mention the Name of Jesus Christ here. Don’t you feel foolish now that I’ve exposed your inconsistency? Don’t you believe in ‘free speech’, oh head of knuckle? I offer to you the same advice I offer to many: proofread your posts! Clean up your act! When I read posts like yours, my first thought is of a toothless, inbred, illiterate savage in some 3rd world hellhole banging away on his keyboard with his 7 fingers. Try to be wise. Seek the Lord while He may be found! Eternity is a LONG, LONG time. Where you spend it is a matter of your own will. I’ll pray you choose wisely. Semper Fi, Chris in Colorado
December 7th, 2008 at 5:24 pm
Homebrew: You stated the following in #37:
“I’m not a bible thumper as some are. What I always remember being said was “God helps those who help themselves”.”
Congrats..you just quoted Bill O’Reilly (I call him, Oh, Really??) and not the Bible! You can look for that sentence in the Bible until Jesus returns, and you’ll be wasting your time ’cause it just ain’t there. But Bill claimed to have seen that statement in the Bible, and he quoted it on one of his shows. Does Bill even OWN a Bible..I wonder. He’s a despicable, phony, self-righteous pseudo-conservative. Don’t be a dope like he is..read what the Bible really says and check it out for yourself. Gen. Patton claimed an advantage over Field Marshal Rommel because he’d read Rommel’s book! There’s a solid principle in force there. Perhaps the best way to know a person is to read his book. There’s no better book in the world than the Bible! Semper Fi, Chris in Colorado
December 7th, 2008 at 5:55 pm
why is it again I should feel sorry for people who bought homes in greed with too much borrowed money?
How is it fair for renters and people whose homes are paid off to bear any bailout costs.
Overleverged buyers get the gold, and the prudent get the shaft.
December 7th, 2008 at 7:15 pm
The christians are dangerous. I’ve watched masses of them leaving from sonday morning rituals and they really are dangerous brainwashed zombies.
They will lay down and do exactley what their masters in government tell them to. They will even participate in selling out real patriots who have food and weapons and rounding people up for the buses. All while clutching their bibles and believing that they’re doing gods work. Just like they believe the u.s. is doing gods work in the satan controlled muslim world.
god bless the fatherland
December 7th, 2008 at 8:57 pm
I am seeing what is happening and my daughter and I have cut back to one meal a day to become debt fre within the next 12 months.
Will I be free of GVt after that? Not sure.. But after that I will be questioning who comes after anything they are not due. I am beginning to write local news papers to literallyb instiigate the property taxation process and I have purposely reduced my income to below state and ferdearla income taxes.
I will avoid the slavery imposed by GVT until they make it clear that thee is no way to avoid it. Then I will hope I am not alone in the actions I will have to resort to.. whatver that may be.
December 7th, 2008 at 9:17 pm
G W Bush was appointed president for this very outcome. He did not fully understand this because he was not needed to and he could not think at this level. If there is a five years from now, you will gladly buy his “ghost written” hardcover book for the then cheep price of $200 and you will believe every word of it.
L E V I A T H A N
December 7th, 2008 at 9:34 pm
GREED IS THE PLANNED FATAL FLAW OF THE HUMAN RACE.
L E V I A T H A N
December 7th, 2008 at 10:06 pm
Only idiots can absolve the idiot BUSH from all this. Bush never earned a dime and will not loose a dime, but you will.
L E V I A T H A N
December 7th, 2008 at 11:22 pm
I absolve Bush for all his actions and request a signed copy of his book 200 years in advance…..
Thank you GW ..We and Obama love you and all you have done for the US.. May Obama follow in your footsteps…
Praise be to Obamallah
December 8th, 2008 at 1:12 am
GET A JOB. GET REAL. OBEY GOD. READ THE WORD. DO YOUR PART NOW! OR DIE.
December 8th, 2008 at 9:16 am
#16 kwitcherbychin Says:
December 5th, 2008 at 9:50 pm
#15 Then why did I buy my “LAND” before i built my house?
———————–
If you pay taxes on it, it is not yours. You are forever renting it unless you have an allodial title. If you search “Constitution Class” on YouTube, there is a great 8 hr. course on the Constitution that explains this.
December 8th, 2008 at 10:48 am
No balls (#47): Here’s your rant you spouted:
“The christians are dangerous. I’ve watched masses of them leaving from sonday morning rituals and they really are dangerous brainwashed zombies.”
They will lay down and do exactley what their masters in government tell them to. They will even participate in selling out real patriots who have food and weapons and rounding people up for the buses. All while clutching their bibles and believing that they’re doing gods work. Just like they believe the u.s. is doing gods work in the satan controlled muslim world.”
god bless the fatherland
**Hey, No balls..how could it be possible that a group (christians) so marginalized and ridiculed by heathens (like you!) could be so “dangerous”?! After all, we’re just ‘brainwashed zombies”, right? It seems to me that if christians are truly cowed and tamed by the government, as you suggest, then they’d be at the low end of the ‘threat assessment continuum’. Listen, please: Don’t hate and reject God and then blame your disdain of God on others. People will be judged according to their own works, and not the works of others. Are there christians in the world who are remarkably ignorant of what the NWO is accomplishing against America today? Of Course! In fact there are a considerable # of those folks IN MY OWN BIBLE CHURCH! But I refuse to throw in the towel; I’ll continue to warn them of the impending disaster and urge them to prepare. That’s the wise course. We shall, one day soon, either hang together or hang separately (wasn’t it Franklin who coined that?). We need to stop ‘killing’ one another and save it for the real enemies. I pray that we’ll prevail in the face of overwhelming odds, like our forefathers did. Semper Fi, Chris in Colorado
December 8th, 2008 at 12:33 pm
It’s going by the “Book”.
http://www.tribulation2008.com
December 13th, 2008 at 1:12 pm
When