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Just heard on NPR
- Thread starter John R
- Start date
Smiling JOe
SoWal Expert
The banks are just following some stupid internal rules regarding the waiting until the person is 90 days behind on payments, rather than taking action at first glance of trouble. I could go on for pages and pages on that subject, but I'd rather not right now.
Franny
Beach Fanatic
Just curious John R, did they mention who has the worst foreclosures?
BeachKing
Beach Lover
http://query.nytimes.com/gst/fullpa...0A35751C0A967958260&sec=&spon=&pagewanted=all
If you have mortgage issues you the mortgagee must be your own advocate and speak up, not some clerk in a cubicle in a far off city. Banks are not in business to give money away, that?s apparently our government?s job. Banks are created to make a profit; if they run it poorly and don?t they go out of business, period. They are not created as a charity organization. Banks do not staff as such. Do it yourself is always the best action plan. This may sound mean to some. It is not it is just the reality of this world. Do it yourself or pay the consequences. The attached though shows you banks are doing it,,,, Notin but Love Baby.
John R
needs to get out more
sorry, no. i was typing while listening.
Smiling JOe
SoWal Expert
Franny, I think California is number 1 in that department.
ASH
Beach Fanatic
I clipped this out of an article in the money section of CNN:
Nevada, California and Florida had the highest foreclosure filing rates in the nation. One in every 165 households in Nevada received a filing in February, up 68% from a year ago and more than three times the national average. Home prices surged in all three states during the housing boom, partly due to investment by speculative buyers, but they have fallen dramatically since last summer.
In California, foreclosure activity was up 131% year-over-year with a total of 53,629 filings. Florida reported 32,447 foreclosure filings, up 69% over the same period last year.
Metro areas in California and Florida topped the list of urban centers facing a surge in foreclosure filings.
Florida's Cape Coral-Fort Myers metro area was the hardest hit in February with one in every 84 households receiving a foreclosure filing - 6.7 times the national average. Stockton, Calif., had the second-highest foreclosure rate, where one in every 87 households receiving a filing in February.
Nevada, California and Florida had the highest foreclosure filing rates in the nation. One in every 165 households in Nevada received a filing in February, up 68% from a year ago and more than three times the national average. Home prices surged in all three states during the housing boom, partly due to investment by speculative buyers, but they have fallen dramatically since last summer.
In California, foreclosure activity was up 131% year-over-year with a total of 53,629 filings. Florida reported 32,447 foreclosure filings, up 69% over the same period last year.
Metro areas in California and Florida topped the list of urban centers facing a surge in foreclosure filings.
Florida's Cape Coral-Fort Myers metro area was the hardest hit in February with one in every 84 households receiving a foreclosure filing - 6.7 times the national average. Stockton, Calif., had the second-highest foreclosure rate, where one in every 87 households receiving a filing in February.
Franny
Beach Fanatic
That is what I was thinking too. Thanks