homes in foreclosure top 1 million

a very, very disturbing result of the bush administration. the blame shouldn't fall on the people just because their credit is shaky. more and more people are having to use their credit for necessities and not luxuries. add into the mix unregulated mortgage and finance companies scamming people with adjustable rate loans and you have a BIG housing problem in america. hey bush, you needed to concentrate on the problems here at home, instead of making you and your oil company buddies rich beyond belief. i honestly don't know why this bastard has been allowed to screw over america with absolutely zero being done about it? darker days indeed to come folks.

https://promo.realestate.yahoo.com/homes-in-foreclosure-top-1-million.html

Yupp, he's effed this country up for years to come.

I got the Fuel Oil pre-buy flyers in the mail this week, and called for prices. They want $4.94 a gallon to "Lock-In". So, if you burn 1,000 gallons, they want basically $5,000 and up front too, if you want the guaranteed price.

I'm just lucky that my wife and I both have very good jobs. But, how can the average Joe afford this anymore?

Friggin' joke.

It's Bush's fault? It's his fault that SO many people were stupid enough to take ARM loans that they later could not afford just so they could get into a house? Lets not balme it all on the price of gas and groceries. If you're living to the very ends of your means and the price of gas and food pushes you over the edge then perhaps you should live in a smaller home with a smaller mortgage?

Again, I can't stand W, but this is hardly ALL his fault. The people themselves are to blame as well.

KitFisto said:

It's Bush's fault? It's his fault that SO many people were stupid enough to take ARM loans that they later could not afford just so they could get into a house? Lets not balme it all on the price of gas and groceries. If you're living to the very ends of your means and the price of gas and food pushes you over the edge then perhaps you should live in a smaller home with a smaller mortgage?

Again, I can't stand W, but this is hardly ALL his fault. The people themselves are to blame as well.

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Kit, it's one thing to live above your means but if you are comfortable and then prices start rising quickly how is that the peoples fault. I don't know about you but my job gives raises once a year. In 2 years home heating oil went from 2.05 per gallon to 4.95 per gallon. That will instantly take a family from comfortable to the beyond their means. Not to mention it is the same for electricity and natural gas. Here in PA the cap is about to expire on electricity. Once that expires then PP&L (Pennsylvania power and lights) can charge whatever they want, and it is going to skyrocket. Is it W's fault, maybe not but if we weren't spending billions across the seas dealing with matters that have been over for years and is no longer our issue, yes that is his fault. He needs to cap gas prices but that will stop money going into his pockets and he doesn't want that. Clinton got impeached for F'n one american, Bush is sitting pretty F'n all americans.

KitFisto said:

It's Bush's fault? It's his fault that SO many people were stupid enough to take ARM loans that they later could not afford just so they could get into a house? Lets not balme it all on the price of gas and groceries. If you're living to the very ends of your means and the price of gas and food pushes you over the edge then perhaps you should live in a smaller home with a smaller mortgage?

Again, I can't stand W, but this is hardly ALL his fault. The people themselves are to blame as well.

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I don't think its fair to say that if fuel oil going from $2.00 a gallon to $5.00 a gallon and that pushes you over the edge you were living near the ends of your means.

What if you get hurt or get sick, etc. and the bills start to stack up? And, you only get disability? Or on a fixed income like elderly people. Are they living close to their means as well?

Gas, fuel, etc. We all know the prices have doubled. Has your salary?

I know it's not all his fault. But, I blame a big part of it on him. He's done nothing about it. And, he doesn't have a dime in it. So, again it's not his problem.

Chimera,

I hear you, but what's "confortable"? Having $100 left at the end of the month after all bills are paid? $200? $500??

The real fault here and the reason so many homes are being foreclosed on is NOT the price of gas and food. It's the ARM loans people took. Sure get a great interest loan for the first 2 years and then your interest rate nearly double and your mortgage goes up $500 a month. Few people can afford that, but they took it and then figured they would refinance before the ARM went up. Well guess what? Because so many mortgage companies went under do to the housing market downtred, people were no longer able to refinance or afford their homes and with the housing market being down they could not sell and break even either so..........foreclosed on.

The fault is in many places, but lets not excuse stupid people either.

Agent23 said:

I don't think its fair to say that if fuel oil going from $2.00 a gallon to $5.00 a gallon and that pushes you over the edge you were living near the ends of your means.

Gas, fuel, etc. We all know the prices have doubled. Has your salary?

I know it's not all his fault. But, I blame a big part of it on him. He's done nothing about it. And, he doesn't have a dime in it. So, again it's not his problem.

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First, where is gas $5.00 a gallon for regular in this country? Maybe a few places, but I love near DC which isn't cheap and it's still around $3.85 a gallon ( which still sucks ). But yes, I'd say you're living right at the edge of your means if driving back and forth to work is going to break you and force you to live off of credit cards.

I know people who have convered to electric heat due to the price of oil heating. That's a smart moce IMO. Why are tohers not following suit to save money? Why keep shelling out HUGE $$$ if you don't have to?

I was talking fuel oil being $5.00 Jason. Not gas.

And, I'm making the switch to electric myself.

KitFisto said:

First, where is gas $5.00 a gallon for regular in this country? Maybe a few places, but I love near DC which isn't cheap and it's still around $3.85 a gallon ( which still sucks ). But yes, I'd say you're living right at the edge of your means if driving back and forth to work is going to break you and force you to live off of credit cards.

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I have to agree. I also think the media is partially to blame. I certainly didn't see less people at Disney World this year. That place is not cheap yet almost every hotel room was booked when I went down. I also don't see a shortage of people when I go out to eat, go to the movies, or any other recreational place for that matter. Not to mention some record numbers for video game sales and movies. LOL! Maybe if people stopped blowing their money on stuff they don't need they would be able to afford gas. I am not saying I agree with the price I am just pointing out the spending habits of some American people.

What does the president have to do with it?
Isn't legislation controlled by Congress?

Good point BadMoon. People are still going to the movies, dinner, driving, going on vacations, etc. like its going out of style.

Not to mention how many people actually carpool?

I live near Albany, NY and most cars have 1 or 2 people in them during rush hour.

As much complaining as people do. Most don't make the effort to do anything about it either.

Agent23 said:

As much complaining as people do. Most don't make the effort to do anything about it either.

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Exactly, people want EVERYTHING for the least amount of money.

Enough with the political threads on this board.Your Country is fokked up, we know...anything else???

KitFisto said:

First, where is gas $5.00 a gallon for regular in this country? Maybe a few places, but I love near DC which isn't cheap and it's still around $3.85 a gallon ( which still sucks ). But yes, I'd say you're living right at the edge of your means if driving back and forth to work is going to break you and force you to live off of credit cards.

I know people who have convered to electric heat due to the price of oil heating. That's a smart moce IMO. Why are tohers not following suit to save money? Why keep shelling out HUGE $$$ if you don't have to?

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It's not just gas prices though. My electric bills have tripled in the past year. Food prices are rising too. When I set up my budget to see if I could afford a $1500 mortgage, I had no way of predicting this extra $150 a month in expenses. I'm by no means in trouble, but a lot of people that were 'just' getting by, are now having their homes foreclosed due to these extra expenses.

KitFisto said:

First, where is gas $5.00 a gallon for regular in this country? Maybe a few places, but I love near DC which isn't cheap and it's still around $3.85 a gallon ( which still sucks ).

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$4.05 on 14th street this morning.

(went into the city to grab some grub @ Au Bon Pain).

KitFisto said:

Chimera,

I hear you, but what's "confortable"? Having $100 left at the end of the month after all bills are paid? $200? $500??

The real fault here and the reason so many homes are being foreclosed on is NOT the price of gas and food. It's the ARM loans people took. Sure get a great interest loan for the first 2 years and then your interest rate nearly double and your mortgage goes up $500 a month. Few people can afford that, but they took it and then figured they would refinance before the ARM went up. Well guess what? Because so many mortgage companies went under do to the housing market downtred, people were no longer able to refinance or afford their homes and with the housing market being down they could not sell and break even either so..........foreclosed on.

The fault is in many places, but lets not excuse stupid people either.

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I completely agree with you on the ARM's. I forgot to address that in my post. If people weren't so impatient they would still have their homes. The ARM's as I take it were intended to make homes more accessible to more people. BUT what they failed to mention is how it would be impacted depending on the market at the time. Which is wrong of them to do. There are many contributing factors to our current crisis. Everyone wants the American dream but few can truly afford it my friend.

Darth Loki said:

It's not just gas prices though. My electric bills have tripled in the past year. Food prices are rising too. When I set up my budget to see if I could afford a $1500 mortgage, I had no way of predicting this extra $150 a month in expenses. I'm by no means in trouble, but a lot of people that were 'just' getting by, are now having their homes foreclosed due to these extra expenses.

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Exactly and that's what I am saying. Don't live "just getting by" because when something goes wrong you fooked. Trust me, I know all about it. I still have a stack of debt due to stupid choices and spending habbits, but I don't blame Bush for my problems. I blame myself for being stupid.

I have cut WAY back on my electirc usage. I don't use my heat in the winter because I like it colder anyway, but I can wear a sweatshirt and keep my heat 5 degrees cooler. In the summer I now turn my AC a little warmer to save money.

The problem is many REFUSE to sacrifice ANYTHING, but still want to ^^^^^ about prices.

Shai Hulud said:

Enough with the political threads on this board.Your Country is fokked up, we know...anything else???

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I'm sorry, but you can cry all you want that this is anyone else's problem but the people themselves. Whatever happened to personal responsibility. That's why Bush is back in office to begin with. I don't sympathize one bit and the people should lose there houses. Maybe they'll learn a little about the way money works. More than likely though they'll stick their hands out for a free pass and our government will be happy to have the responisble people pay off their credit issues for them.