47%... that's the increase in foreclosures over last year. FORTY-SEVEN percent. An article on MSN.com states that mortgage companies are trying to stem the blood flow by helping borrowers make good on their loans by offering deals, and compensation if there were any deceptive lending practices used in obtaining the loan... a little late, don't you think guys? That's like trying to hold back a flood with a stick for a dam. They're also stopping sub-prime lending... hey, good move--now. Would have been a whole lot better several years ago had they never started such silliness. If you have to finagle and wiggle to get a loan, you probably can't afford the loan you're trying to get.
It's the American dream to own your own home and property--but I don't think anyone dreams with the intention of it becoming a nightmare they can't escape from without loosing everything. There has to be a realistic limit... oh, and developers need to stop building TajMahal and start putting up more realistically affordable homes. 47%... jeesh.
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