|
|
(more...)
(less...)
Add to My Group
We all know that the foreclosure crisis in America is serious and is causing several banks to fail. The situation is actually becoming worse, and an unintended consequence of foreclosure is causing several problems across the nation which receive very little press, and most Americans who still are financially solvent fail to understand that foreclosure constitutes a "double-whammy" to those who have lost their homes, and it affects the poor and lower income people the worst, some of whom have not experienced a foreclosure. Foreclosures are also posing a unique problem for law enforcement. Atlanta, Georgia, is leading the fight in what appears to be a losing battle to protect homes that are vacant. It's costing the banks even more money as vacant homes are razed by thieves, stripping copper and anything of value that can be carted away. To appreciate the huge number of foreclosures that are occurring, this brief article adds insight but still only scratches the surface of the depth of the issue - and to show the increase in how serious these issues are, the first article was written in August of 2007, and the second was posted by the NT Times in June of this year:
The situation in 2007 was serious; however, based on this recent article from the NY Times, it appears to be getting worse:
As the mortgage crisis worsens, more and more homes remain empty; homes that go into foreclosure often stay vacant for over a year, sometimes up to two years, depending on the laws of each individual state. When a homeowner defaults on his/her mortgage and vacates their home, it causes two unintended consequences that are affecting millions of Americans who don't own homes, but depend on the rental market to secure a roof over their heads. It's another crisis that is developing which receives almost no press coverage at all. When a family loses their home, it's obvious they have to go somewhere, and the only obvious alternative is to rent another home, if possible. Owners of rental property are wary of an individual that has just defaulted on a mortgage, and credit approval is often a challenge. Although homes for rent are becoming harder to find, they are often priced higher than what the family was paying on a mortgage. People who need to rent are being gouged and often wind-up living in a home and neighborhood that reeks of poverty, adding depression and a lack of self-esteem to people who have already suffered the calamity of losing a home.
http://justanothercoverup.com/ I am nothing more than a patriotic American that is doing whatever I can to further the cause of democracy, the rule of law, and am absolutely outraged on how the Bush administration is defying our Congress, the Constitution, and the Bill of Rights! Footnote: I write in a style that I believe is appropriate in today's world where we can't trust the Mainstream News Media, and rather than concentrating on one article alone, which may or may not receive the exposure and emphasis it should, I prefer to meld several relevant stories together, that each taken alone may not expose the entire situation, but when taken-in as a whole, tend to give the reader a better understanding of the subject. One article or story alone does not represent the "Big Picture" - but when several are effectively tied-together it often reveals a trend or broader view of the subject matter that is important to completely understand any given situation. http://justanothercoverup.com/
Copyright © OpEdNews, 2002-2008 |
|
|||||||||||||||||||||||||||||||||||||||||||||||||
Must Read (
Well Said (
News (
Touching (
Funny (
Supported (
Interesting (
Inspiring (
Valuable (
