Foreclosures 101 – Part 1

foreclosures soar

Kwazi Nkrumah: For years the banks, real estate agents and investors in real estate securities on Wall Street were making money hand-over-fist. They did all this while pretending to break from their previous established history of gross discrimination and red-lining against the disproportionately non-white borrowers whose limited financial resources forced them into “sub-prime” status in the first place.

Mortgage Foreclosures, Housing, and the Current Economic Crisis

Foreclosure

So far, here in the U.S., over 4 million homes have been foreclosed on since mid-2006. Because consumer spending drops drastically whenever housing values decline, the entire U.S. economy has been in a tail-spin throughout this period. Over 10 million jobs have been totally eliminated due to a dramatic drop in consumer sales and the resultant decline in production.

Are We in America? Or Are We in a Jungle Where Only the Fittest Survive?

Schwarzenegger hugs Team Canada Special Olympics gymnast Emily Boycott [Reuters

This week, by a majority vote, the California Legislature voted to raise some very modest revenues that no one but the most rabid hater of his fellow man could object to. A $1.50 on a bottle of alcohol.  $15 added to a vehicle license fee.  Revenues that would make it possible for the most vulnerable [...]

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