U.S. home foreclosures set another record in July - Loan Modification Forum

Housebroken13 · 08-27-2009, 12:01 PM

Good news story...

Not Good News: More Foreclosures in USA Here There and Everywhere

Garry · 08-27-2009, 12:17 PM

The problem is that the news keeps talking like housing sales are up to give everyone a false sense of security, and they don't mention that foreclosures are far exceeding any home sales.

Tartbird · 08-27-2009, 08:10 PM

Garry, you are so on target! I live in an area where there are tons of foreclosures and the paper keeps touting how home sales have grown 5,000% or some ridiculous number, but they never bother to mention that for every home that is "sold" a family has been displaced and their home and investment and money is gone! Sales are only up because of the fact that banks are taking over the homes and selling them out from under the people. But I never hear that side of it mentioned in these articles!

Garry · 08-28-2009, 01:24 AM

They're also not mentioning that it's mainly investors buying the properties.

08-27-2009, 12:01 PM	#1 (permalink)
Housebroken13 Senior Member Join Date: Jul 2009 Posts: 285 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	U.S. home foreclosures set another record in July Good news story... Not Good News: More Foreclosures in USA Here There and Everywhere

08-27-2009, 12:17 PM	#2 (permalink)
Garry Senior Member Join Date: Aug 2009 Posts: 1,156 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: U.S. home foreclosures set another record in July The problem is that the news keeps talking like housing sales are up to give everyone a false sense of security, and they don't mention that foreclosures are far exceeding any home sales.

08-27-2009, 08:10 PM	#3 (permalink)
Tartbird Senior Member Join Date: Apr 2009 Posts: 154 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: U.S. home foreclosures set another record in July Garry, you are so on target! I live in an area where there are tons of foreclosures and the paper keeps touting how home sales have grown 5,000% or some ridiculous number, but they never bother to mention that for every home that is "sold" a family has been displaced and their home and investment and money is gone! Sales are only up because of the fact that banks are taking over the homes and selling them out from under the people. But I never hear that side of it mentioned in these articles!

08-28-2009, 01:24 AM	#4 (permalink)
Garry Senior Member Join Date: Aug 2009 Posts: 1,156 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: U.S. home foreclosures set another record in July They're also not mentioning that it's mainly investors buying the properties.

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