Comments on: The Return Of The Foreclosure Machine! http://www.realestateradiousa.com/2010/03/06/the-return-of-the-foreclosure-machine/ Internet Money! Money On The Internet! Tue, 07 Sep 2010 18:23:37 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Barry Cunningham http://www.realestateradiousa.com/2010/03/06/the-return-of-the-foreclosure-machine/comment-page-1/#comment-6938 Barry Cunningham Tue, 09 Mar 2010 23:15:23 +0000 http://www.realestateradiousa.com/blog/?p=12337#comment-6938 Hi Dominic..you make a good point. However as a buyer who seizes upon opportunity sometimes I overlook that some are really getting hurt. Thanks for the perspective. Hi Dominic..you make a good point. However as a buyer who seizes upon opportunity sometimes I overlook that some are really getting hurt. Thanks for the perspective.

]]> By: Dominic http://www.realestateradiousa.com/2010/03/06/the-return-of-the-foreclosure-machine/comment-page-1/#comment-6933 Dominic Mon, 08 Mar 2010 22:21:31 +0000 http://www.realestateradiousa.com/blog/?p=12337#comment-6933 It is true that those who have liquid assets are in a position to buy. However, on a broader note, it is the banks that are quite literally starving people and who have a strangle hold on the government. So, the news is good, but let's not fail to recognize that the debt money system does not work and hurts people who are using debt to pay for things, including mortgages, and it will be the cause of bigger and bigger financial ruin with each contraction that takes place in the economy. It's on path headed for destruction. D It is true that those who have liquid assets are in a position to buy. However, on a broader note, it is the banks that are quite literally starving people and who have a strangle hold on the government. So, the news is good, but let’s not fail to recognize that the debt money system does not work and hurts people who are using debt to pay for things, including mortgages, and it will be the cause of bigger and bigger financial ruin with each contraction that takes place in the economy. It’s on path headed for destruction.

D

]]> By: Jack Lewitz http://www.realestateradiousa.com/2010/03/06/the-return-of-the-foreclosure-machine/comment-page-1/#comment-4817 Jack Lewitz Tue, 12 May 2009 04:34:08 +0000 http://www.realestateradiousa.com/blog/?p=12337#comment-4817 I just finished writing a blog article explaining Illinois Senate Bill 2513 which was signed into law in April. Essentially this is a 90-day moratorium on foreclosures in IL. In IL foreclosures are motionless. Homeowners are receiving Notices of Default in a Certified letter. Are given the option to seek counseling at a HUD approved office and are trying to modify loans with their lender based on the Obama plan. What will happen in the next 90-days is unsure. I expect we will also begin to see a rise in foreclosures as banks begin to accelerate the foreclosure process. I just finished writing a blog article explaining Illinois Senate Bill 2513 which was signed into law in April. Essentially this is a 90-day moratorium on foreclosures in IL.
In IL foreclosures are motionless. Homeowners are receiving Notices of Default in a Certified letter. Are given the option to seek counseling at a HUD approved office and are trying to modify loans with their lender based on the Obama plan.

What will happen in the next 90-days is unsure. I expect we will also begin to see a rise in foreclosures as banks begin to accelerate the foreclosure process.

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