Upcoming Foreclosures

With all the bailout money, why is nothing being done to delay actual foreclosures ?

and keep people in their homes? I mean..money has been given to banks to bail them out from their bad financial decisions....but from what I hear foreclosures are increasing at an even further rate. They say soon 8 out of 100 morgaged homes in USA might be in foreclosure by middle of next year.

Public Comments

1. Bailing individuals out won't solve the underlying problem and you'd just be delaying foreclosures that are going to happen because of economics.
2. The banks are using some of the money they recieved to wine and dine congressmen to let them keep forclosing on people while still recieving government bailout money. When the bailout dinner was brought out, the forclusure victims didn't have a seat at the table.
3. Its all a big rip off.
4. They lied.
5. Congress, in it's wisdom, created a law in which they, (the members of Congress, and only the members of Congress), can, by law, invest in the stock market using insider information. Anyone else doing this gets arrested and goes to jail. And they do. How else can you explain how someone gets elected and a few years later are multi, multi millionaires. And their ability to become millionaires is being threatened by the falling stock prices. Their only aim is to shore up the banks to increase the banks profits and therefore their own. They don't give a crap about foreclosed people being thrown out. Not if the banks can make money off it by selling the assets. And if they have a loss selling the house, not to worry. They have insurance. Wasn't that the first thing they bailed out? The insurance company that insures the banks to insure the banks don't have a loss so that the stock price rises and then the members of Congress can make their profit based on their insider knowledge that what they are doing with the bailout will cause stock prices to rise. They don't care about you and me. Only their wallets. And if you get in the way you lose.
6. Because the government is giving this "bailout" money to the wrong people! There are about 3 million people in the US, the government should be giving each of us - $1 million dollars (far less than the 7 trillion already spent). Then us the taxpayers who are ultimately going to have to pay off this 7 trillion dollars, we could pay off our debt, home loans, student loans, credit card debt, get off unemployment, buy cars, buy homes, buy food, pay medical bills, pay taxes, invest in the stock market, and all this "spending" would in turn increase production, create jobs and OMG we might even boost this economy buy having the money to do all this spending!
7. money has been LENT to banks to save them. The people facing foreclosure already have loans they cannot afford and will never be able to afford. Help the people that have a chance, but there are a bunch of people who put 0% down at a teaser rate (so they were basically renting), and now can't afford the loan. These people will NEVER be able to afford it.