States With the Most Homes in Foreclosure

[hornyag101]

I found this interesting and surprising that California wasn't even in the top 11, were a bunch of slackers we are out here;)

http://247wallst.com/2012/02/09/the-states-with-the-most-homes-in-foreclosure/?utm_source=yahoo-re&utm_medium=banner&utm_content=the-states-with-the-most-homes-in-foreclosure&utm_campaign=YHOORE

What was interesting was how many Republican states were in there, I thought it was all the Democrats fault?

Personally I think there all at fault and the Democrats and Republicans are an incestuous bunch of hypocrites whose acts are now more similar than different. I am also pissed at the party that I used to associate with more, the Republicans and the lies and general pettiness they show towards anything that comes out of Obama's mouth. I am not a fan of Obama but I am not going to lie and act like a spoiled child. There are things he has done that I can acknowledge as doing a good job but my Conservative friends and family would cringe if he cured World Hunger, that's how bitter they are.

Here is a breakdown of the hardest hit States and the party affiliation of the current governor:

1. Florida (Republican)

2. New Jersey (Republican)

3. Illinois (Democrat)

4. Nevada (Republican)

5. New York (Democrat)

6. Maine (Republican)

7. Connecticut (Democrat)

8. Hawaii (Democrat)

9. South Carolina (Republican)

10. Ohio (Republican)

11. Indiana (Republican)



The 11 States with the worst foreclosure rates, 7 of them have a Republican Governor? Aren't they supposed to be these great thinkers? How would a Republican President be able to turn this country around if the party can't even turn states around?

I hear a lot of my Conservative friends throwing out untruths about Obama. Example: he instituted the TARP funds when that came under Bush's regime and instituted by Hank Paulson. Also they tend to forget that the crash happened under Bush's Presidency which probably helped to vault Obama into the White House.

I have no problem criticizing the party I have voted for more times than not but other right leaning people I know tend to have blinders on. I also can't understand the cartoon like hate they have for Obama but the love they have for GW Bush? If they hated both of them I can understand but GWB was a naive simpleton and we are paying for that now.

[ichi the killer]

Hornyyag, the reason for the foreclosures as you know is not exactly the fault of either political party, though some politicians are firm believers in derergulation which is one of the big reason's for the realestate melt down. The real bottom line is the fact that humans are basically greedy and dishonest. This is the reason why sometimes there has to be laws and regulations with penalties to be imposed if these laws are broken. In a perfect world there would not have been the scandelous speculation and lending that went on prior to the housing bubble bursting. That is the big reason we are in recession right now. I myself am way "upside down" with a property I own. Part of me wants to just walk away from it and cut my losses. The other part of me says "no just pay it off, you don't want to ruin your credit."

Capitalism is very corrupt. In a perfect world it would be good. Sell a product to willing buyers and make a fair profit. But, humans are evil and corrupt by nature. So here we are. :)

[hornyag101]

I know it's not the fault of either party, just that one party wants to stand defiant and act as if they had nothing to do with it. It really makes me sick to think I voted for GWB in his first election and I was affiliated with that same party.

An honest person admits there mistakes, dishonest people have never made mistakes and I am tired of voting for dishonest people.

I am a firm believer that deregulation is at fault for most of this mess. It started with Reagan, continued with Clinton and the Bush's and now we all have to pay. The House and Senate are just as guilty as well. You can't let an industry whose deposit's are insured by the federal government run without any regulation, if they want the insurance they have to play by the rules.

We just have a government that is reactive instead of pro-active. If you hear my Conservative friends today they are quick to pull out of there asses all the Republicans who were warning against this, a bunch of BS. According to them the President was helpless because Dodd and Frank were these evil doers who he was defenseless against. I ask "So GWB was a big pussy" oh no they say but he tried everything he could, what a fairy tale.

I don't trust people who can't admit when they were wrong, the Republican party is doing just that right now.

[hornyag101]

I myself am way "upside down" with a property I own. Part of me wants to just walk away from it and cut my losses. The other part of me says "no just pay it off, you don't want to ruin your credit."

I am sorry to hear about that, your a good guy.

Have you thought about applying for one of the programs to reduce your interest rate? A friend of mine who was in the same situation got his interest rate reduced to 2% for something like 7 years because he was upside down. Him and his wife make a good 6 figure salary as well so it's not like you have to be unemployed or anything. They considered leaving there house as well but I told him that if he leaves he is guaranteed to losing everything he has put into the home. I asked if they could comfortably afford the payments that the price of the home will eventually recover, it will just take 15 years at least.

If your not too far upside down and would be happy to be living there in 10 to 15 years than keep it up. Think about how much your home will cost you over a 7 year span and what you would save vs renting in that same time period. In 7 years your credit will have recovered and you will have the money you saved by renting that can be used to purchase another home. I think prices will remain relatively steady in that 7 years so you should come out on top.

Your a smart guy Ichi, whatever you decide will be the best for you and your family. I wish you all the luck in the world my friend.