November 01, 2007

FLASH: Foreclosures up 100% from last year. Oopsie, you mean those toxic loans had to be paid back?


(translation: what was Countrywide thinking?)

Number of US Homes Facing Foreclosure Doubles in Third Quarter

LOS ANGELES (AP) -- A soaring number of U.S. homeowners struggled to make mortgage payments in the third quarter, with properties in some stage of foreclosure more than doubling from the same time last year, a mortgage data company said Thursday.

A total of 446,726 homes nationwide were targeted by some sort of foreclosure activity from July to September, up 100.1 percent from 223,233 properties in the year-ago period, according to Irvine-based RealtyTrac Inc.


Anonymous said...

Only 100%?

Princess Mononoke said...

You know, it is soooo sad that the media has to wait for actual data, #s to be issued by the "Powers That Be" to report it to the public!

I know they're intelligent people or at least I'd like to think so. They have always known the bad news or what was to come. I feel like they've been deliberately throwing their parties convincing everyone that we're doing fantastic, no problems here! Market manipulation if you ask me.

Until their parents got home, then suddenly... it's fess up time! Oops sorry! Numbers don't lie!

I'm actually quite shocked to hear CNBC today actually being straight forward about the current state of affairs... Oil, dollar, banks instability, etc. They've been using terms such as NO liquidity & Do the right thing! Wow!

Princess Mononoke said...

I should add that I'm very happy to see that CNBC has changed their platform today. I hope it continues in the days and weeks and months to come. Because the situation is going to get much more severe, and all markets will be rudely affected.