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**mbaueee** · 08-28-2010, 10:32 PM

As the Obama Regime's "Summer of Recovery" winds down we move into the "Autumn of Despair"

In the end, who is going to be left holding the bag for all these bad mortgages that should never have happened in the first place? The American Taxpayer, of course. Who else?

Thank you Chris Dodd and Barney Frank (a.k.a. "Bonnie Fwank")

http://www.myfoxny.com/dpp/your_mone...e-10200826-apx

One In 10 Faces Foreclosure

Updated: Thursday, 26 Aug 2010, 10:55 PM EDT
Published : Thursday, 26 Aug 2010, 10:31 AM EDT

BY ALAN ZIBEL

WASHINGTON - One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.

About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday.

That number, which is adjusted for seasonal factors, was down slightly from a record-high of more than 10 percent as of April 30.

In a worrisome sign, the number of homeowners starting to have problems with their mortgages rose after trending downward last year. The number of homes in the foreclosure process fell slightly, the first drop in four years.

More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.

08-28-2010, 10:32 PM	#27
mbaueee Join Date Oct 2005 Posts 447 Senior Member	As the Obama Regime's "Summer of Recovery" winds down we move into the "Autumn of Despair" In the end, who is going to be left holding the bag for all these bad mortgages that should never have happened in the first place? The American Taxpayer, of course. Who else? Thank you Chris Dodd and Barney Frank (a.k.a. "Bonnie Fwank") http://www.myfoxny.com/dpp/your_mone...e-10200826-apx One In 10 Faces Foreclosure Updated: Thursday, 26 Aug 2010, 10:55 PM EDT Published : Thursday, 26 Aug 2010, 10:31 AM EDT BY ALAN ZIBEL WASHINGTON - One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis. About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday. That number, which is adjusted for seasonal factors, was down slightly from a record-high of more than 10 percent as of April 30. In a worrisome sign, the number of homeowners starting to have problems with their mortgages rose after trending downward last year. The number of homes in the foreclosure process fell slightly, the first drop in four years. More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.
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