One in 50 houses are being foreclosed on is that the fault of the 49 who pay on time?

Question

so why does that make the economy bad? gas Prices are high because ofthe markets. Why does that make the economy bad.

Answer 1

No, it's the fault of affirmative action that gave minorities with no credit 100% loans so they could move into more affluent neighborhoods ... and now those once "affluent" neighborhoods are being destroy due to multiple foreclosures.  It should be common sense that if someone can't or won't pay their bills, and can't save up a single dollar to pay as down payment on a home ... then don't give the fool a loan.

Answer 2

It's not "their" fault, but "they" pay for the irresponsibility of the others.

Answer 3

Where do you get your figures from? And simply because 49 have the ability to pay on time doesn't infer that the 1 wasn't ripped a new one by snake oil salesman.

Answer 4

It means the other 49 need to have some of their property confiscated so the 1 deadbeat can continue to enjoy his "rights" to the house, his two boats, his three cars, his wife's boob job, you name it.

Answer 5

no, it is the fault of inflation and other things.  many people who got loans 8 years ago actually have less money to pay off that loan than they did then because of inflation, higher fuel costs, higher food costs, higher prices of education, higher health care costs.  Some of those costs have doubled in the past 8 years.  people actually have less money now than 8 years ago, even when their income has actually risen because factors like those listed above.

Answer 6

No, nor did anyone say it was.

Answer 7

No

Answer 8

Unfortunately too many people wanted to have what they probably could not afford.

And the greedy Mortgage Companies took advantage of them.

In the past one had to have 20 - 25% down to qualify for a Home Mortgage Loan. So, we rented and saved and did not charge on

credit cards things we did not absolutely need. In fact, we had no credit card and no credit anywhere. If we did not have the money

to purchase something, we did not buy it. Christmas and Birthday Presents did not exist. Instead we had a nice Dinner with the Family

and taught our children how to deal with money. What ever we gave to

somebody we made or we gave a Gift Certificate to lend a helping hand

when needed.

We bought a home, paid down 25%, with a 25 year Loan and paid it off much before its time.

We had one car and either shared a ride or one of us took a bus part

or all of the way. We worked overtime as much as possible and every

Dime earned extra was put away. We bought day old bread, darned Sox and made a new dress from two older ones.

We went to evening College for additional education. It was tough for a number of years but we had plans and knew that someday after the kids had their education, we could take it a little easier. All went as planned.

So, we never lived beyond our means and still accomplished a lot.

And by being diligent, we saved enormous amounts of money by not having to pay interest we could not afford.

And whatever worked then, works today as well, if we are willing to

sacrifice at times.

And our children have learned values which have enhanced and eased their lives as well.

Ingrid

Answer 9

No, you insane Republican - the crappy dollar, health care crisis, housing crisis, debt to china, deficit, job loss, cost of gas and heating oil are ALL signs that things are running smoothly! Yes, as long as you are OK, everyone else it too, right?