Upcoming Foreclosures

Do you think that foreclosures will get so bad that the government will stop them?

I mean what will happen when most of the homes are foreclosed on, and the banks are out of money, and everyone is homeless....then.....

Public Comments

1. How?
2. Not everyone will become homeless. There are many people out there that put 20% down and did not do the fancy ARMS, options, balloons, or interest only. It is an insane 20% of the population that were brainless when signing mortgage papers. For some reason they thought they could afford a 3,000 sqfoot home. They ignored that their interest rates could triple. Funny - I saw it in plain ink on the contract - and refused it. Those people will lose their homes. Eventually others will buy them. Things will work out - it will just take time. /
3. Most of the people who are getting foreclosed on have no one but themselves to blame, they bought a house they couldn't afford with a loan that they KNEW would double, triple or even more in a few years. Why should they live in a nice house with the government bailing them out because they screwed up?
4. Forget being homeless. Are you going to be homeless when there are all kinds of houses just sitting there empty? Law abiding people can take just so much but when its millions of people homeless, I would be one of the first moving into one of those closed homes.
5. No, most homes are not going to go into foreclosure. At most there will be only 10% that will be foreclosed on maybe a little more then this. The lesson that should be learned by this is not to become home poor.