Whats the catch?

Anything would be appreciated.

Thanks.

Vincenzo

This is an issue that is troubling and interesting. 180,000 foreclosures reported in July, 93,000 in that same month one year ago, and that, was considered a high mark. We are approaching some 2 million foreclosures a year quickly. To put this in perspective, there are about 100 million households in the U.S., with about 60% of those, owning homes. This means that more that 3% of households will forclose on their property, PER YEAR! Could we be looking at the foreclosed home generation?

I am not indicating that the government should bail people out of their losses, rather, wait is the problem underlying the issue? Predatory lending or wacky ARMS might be a contributo, but, they are but a small piece of lending, with 10 – 20 down with a fixed mortgage of 30 years, still, the average, the norm.

What’s going on?
Let me know if you have any data concerning contributing factors to this issue.

Claudette