What is going on with all theses homes foreclosing?

Question

is there anyway to help stop it though?

Answer 1

easy S.A.T.O time:

Gas is up, Food is up, Raises and Promotions are Low

People are not good Candidates for Purchasing a Home, yet they get pushed along through the ropes to get qualified yet they can't afford their homes therefore they get their houses taken away, repossessed, resold at lower rates so that the banks will break even and get back the balance of the loans given out in the first place

Answer 2

All it takes some seriouis family sickness, some downsizing and being without a few paychecks to start the downward spiral at your house.

Answer 3

The major problem is that people got into mortgages they couldn't afford. The lending laws became so relaxed that ANYONE could get a loan and you didn't really have to qualify for it. Plus there were what is called "adjustable rate mortgages" that are fixed for a certain time and then go up to 10% or higher. Those people with bad credit bought houses and then as the lending laws tighted up, they couldn't afford their payments when their rates went up and now don't qualify to refinance. This is the MAJOR reason but also it just takes getting a little behind to starting losing things. It's sad, but so true.

Answer 4

If you really want to know, here is a fantastic, comprehensive article by the BBC.  

http://news.bbc.co.uk/2/hi/business/7073...

Answer 5

people can't afford them...it's called recession...

People need to get out of debt and the rest is up to the govt.

Answer 6

its about 30 yrs of Reaganomics and the Neo-cons plan to down size the American middle class all the while enriching themselves!!  to be fair de-regulation started under Jimmy Carter but Reagan and HIS cronies and benefactors went at it with a vengeance!!   The Ruling Elite figured out that they could artificially pump up the Economy by letting loose the rules on Credit!  they made it too easy for people to consume  consume  consume

Never in history has any Empire EVER cut taxes in a time of war!!  EVER!!   so we're borrowing from the Chinese and OPEC to finance this Insane OCCUPATION of Iraq and Afghanistan!!  After GWB's campaign promised not to nation build!!  All this has conspired to weaken the Dollar and when they finally turned off the spigot, the bubble burst and now the "easy credit" that these houses were financed on has been pulled out from under their feet and they have insufficient credit to refinance into a fixed rate mortgage....