Foreclosures Are Rising And Not Just Homeowners Are Affected: A Haitian Family Loses Island Home In Earthquake, NY Home in “Bankquake”
The financial crisis started as a housing bubble with the financial industry convinced that home values never fall. How wrong they were even as they leveraged and securitized their investments to create a global crisis.
Now brace yourself, because not only isn’t it over until it’s over, but in some respects it’s only just begun. There will be more foreclosures this year than last and as a result more suffering for American families
Ed Harrison who monitors this industry for a website called Credit Write Downs sees a “second wave coming”—like a new tsunami in a industry that All of Obama’s horses and all of Obama’s men have not been able to do anything about. The idea of challenging fraud and deception with a debt relief plan goes a bit too far for these self-styled centrists.… Read the rest