Since the new Obama Administration took office, the foreclosure rate has been spun by news outlets and our Government, so the people (Yes…US) would be under the impression that the foreclosure plan was working! Guess what… it’s not!
Foreclosure Crisis Reality
The truth and reality is… as soon as Obama took office, many lenders placed a voluntary moratorium on foreclosures to give the new administration time to work out a plan that would help homeowners. Well, the foreclosure moratorium ended and as expected, the numbers are rising again!
From the RealtyTrac report:
March Activity Up 17 Percent From February, 46 Percent From March 2008
To put this into perspective, We the People, are being fed only bits and pieces of news from all sources, to try and paint a rosy good picture on a serious issue that’s not going away with a simple administration change, and tossing billions of dollars at it!
Bad Foreclosure News On the Horizon
Whether we all want to believe it or not, the ONLY way to stem this foreclosure crisis is by building wealth at the community level! Dumping billions of dollars into the banking and insurance industry was only meant to keep the investors (aka China, World Bank) happy during the time it took to reverse the foreclosure trends.
I am not an expert in the banking industry by any means… but I predict we are about to hear some very troubling news about home foreclosure rates!
What do you think?
2 responses so far ↓
1 Tony Orlando // Apr 22, 2009 at 8:02 am
I discovered your homepage by coincidence.
Very interesting posts and well written.
I will put your site on my blogroll.
2 So Much for Progress - Foreclosure Rate Reaches Record High! // May 13, 2009 at 8:27 am
[...] month, we talked about how the voluntary moratorium on foreclosures had come to an end, and was a strong indicator that the foreclosure crisis was about to reach out [...]
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