Foreclosures Rise; Repossessions Set Record
US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.
Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to
foreclosure listing website RealtyTrac, which released the report.
I'm starting to see why the Democrats are running on the "George W. Bush is mean ol' poopyhead" platform - they've got nothing else. In the nearly two years they've had the trifecta, they've managed to auger the economy into the ground, give billions of tax dollars to their friends in the unions, raise taxes, and start the process by which the United States health care system will be routinely dismantled and made to look something like the farce it is in Europe. With a record like that, I'd run against George W. Bush too...
Someone remind me: Is this hope, or change?
That is all.
Thanks to PISSED for the somber note on the economy.
5 comments:
Well, this isn't my idea of "hope," so I'm guessing that it must be "change." For the worst, granted, but change nonetheless.
There's hope, too. You hope things aren't going to get any worse...
Heard Nancy Pelosi called them the "The Obama Middle Class tax cuts" and the Evil Republicans are the ones holding you up from enjoying them.
Except the only difference is, if they are extended, your taxes will remain the same, and if they expire, your taxes will go up.
Besides the fact that the last time taxes were cut, it was under Bush in 2001.
And some of us remember the signing ceremony, plus there is miles of Video Footage that shows him signing it.
Would someone run a blood test on that Commie Whore and see what drugs are in her system? How did this Revisionist Loon get to be 3rd. in line to the Presidency?
God help the Republic.
Yes it is Hopeless Change we can count on to get worse!!
I think I broke the rage-o-meter after reading that last link.
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