Foreclosures up for first time in 27 months

Discussion in 'Economy' started by Nova78, Jun 14, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Foreclosures up for first time in 27 months | General Headlines | Comcast

    U.S. foreclosure starts rose year-over-year in May for the first time in more than two years - though they fell on a month-to-month basis - as banks resumed dealing with distressed properties after a mortgage abuse settlement earlier this year, data firm RealtyTrac said on Thursday.

    The $25 billion settlement between major banks and states, formally approved in April, had been expected to jump-start foreclosure proceedings that were previously stalled by uncertainty about the liability of banks.

    Overall foreclosure activity, which includes default notices, scheduled auctions and bank repossessions, affected 205,990 properties in May, a 9.1 percent increase from April.

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    Wow , people need jobs , and jobs that pay well ,and live below your means ,not above you means........:eusa_whistle:
     
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  2. Skull Pilot
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    Skull Pilot Platinum Member

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    Gee you think it might have something to do with all those people whose UE benefits have ended.

    They might not be counted among the unemployed but that doesn't mean they're working.
     
  3. Nova78
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    Nova78 Silver Member

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    Yea ,your right it could, I think this Country is in deep do-do, worst than most want to believe.....
     
  4. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    This must be the "Summer of Recovery" I've been reading about!
     
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  5. Skull Pilot
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    Skull Pilot Platinum Member

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    More like the summer of the double dip and I don't mean the frozen treat.
     
  6. tjvh
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    tjvh Senior Member

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    Again, we must remember... "Housing Starts" do NOT mean "a new home" one's family can occupy. I can lay a cement foundation, wrap it with caution tape, and it is counted as a "Start", when actually it is nothing more than a small parking lot.
     
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  7. Truthmatters
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    Truthmatters BANNED

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    dont cream your jeans yet at the US demise.

    Remember if you get you corporate raider elected you will have to be screaming how wonderful things are next year
     
  8. Skull Pilot
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    Skull Pilot Platinum Member

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    Can't get much worse.

    A fucking mannequin could do a better job than the average idiot politician.
     
  9. tjvh
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    tjvh Senior Member

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    I can't wait.
     

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