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Capital Gazette Communications
Published
08/02/09
Mortgage companies moved to foreclose on a record number of county homes the past two months, signaling a second wave to the area's mushrooming foreclosure crisis linked more to unemployment and other financial setbacks than the bad mortgage products experts have blamed to date. Find Us On Facebook
Financial advisers said all types of people still are losing their homes to foreclosure, but experts agree more and more are "ordinary people" who have lost their jobs and fallen behind on their mortgages. "They can hang on for a while, but they can't do it forever," said Albert "Pete" Kyle, a finance professor at...
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rent vs. mortgage payment - 2009-08-02 19:08:56
Kyle's comment is a little strange:
"It may sound heartless, but there are a lot of people who need to be renters," he said.
If a family cannot afford $1,200 a month for a mortgage payment, how can they afford the same amount OR MORE, for a 2 BR or more, for renting? Since the lenders seem to be part of the problem, using high interest or other means to rip off mortgage holders, they should have to forfeit some of their PROJECTED (not actual money in hand) profits and offer reasonable rewrites of mortgages at no extra cost. That's the least they could do.
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E. Annapolis - , - Karma: Neutral
Report Abuse or Vote In order to allow the user community the ability to collectively rank the value of comments posted on the Capital Gazette websites we have implemented a thumbs-up/down system. All logged-in users may participate by voting up/down each comment. If others vote on your comment, your individual score will go up/down depending on the votes. Initially, everyone starts with a score of zero, and must earn credits to have significant voting weight. Individuals with higher scores will have more voting weight. 0
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Billions - 2009-08-02 12:47:40
I guess its too late to get our billions of tax dollars spent to slow foreclosures. I do not know which company is enjoying that money, but it was obviously not used to help foreclosures. Just one more failed "spend your way out" policy of our government. At least it looks like we will be stopping these geniuses from raping and pillaging our health-care system. Why do us American Sheep allow this to go on and beg for more?
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S Rogers - , - Karma: Excellent
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