US Foreclosure Activity Up 7 Percent in August, RealtyTrac

[Purveyor]

Source: Realty Today

Foreclosure activity in the United States ticked up seven percent in August, according to property intelligence firm's RealtyTrac's latest market report.

The report found that about 116,913 properties in the U.S. were either seized by the bank, scheduled for auctions or given default notices in the month of August.

Foreclosure starts were also up 12 percent in August on a month-over-month basis, but remained unchanged from the same time last year.

The number of properties put up for foreclosure auction was 51,192 - down one percent from a month ago, but up one percent from a year ago.

Read more: http://www.realtytoday.com/articles/6385/20140911/foreclosure-activity-up-7-percent-august-realtytrac.htm

[jtuck004]

1. Wait until they raise interest rates. Millions of people have refinanced after the thieving bankers

and their politician friends stole so much from the economy, and they used ARMs to do it.

There are, roughly, 9 million homes loans underwater today, and that could add as many as another 2 to 3 times as many from a couple estimates I read of those ARMS resetting, once they get tired of keeping the economy up for the people like Mi$$ RobMe on the backs of working people, as is being done today.

[Purveyor]

2. With fixed interest rates so low, why in the hell would anyone do a ARM?

[jtuck004]

3. I'm not sure if you remember a financial crisis prompted by thieving bankers and their

friends in political office - but for some people that's the only way they could make the payment.

It's also how they create the come-on that incentives people to make the move. The bank knows good and well it will fail, but they make a lot of money from such theft, and the politicians cover for them and make it possible. Bankers and mortgage brokers are, in my opinion, much like pedophiles showing a puppy to a little girl. No morals, and mostly harmful.

[titaniumsalute]

4. I agree banks are thieves and can have strong sales tactics but...

...come on. Anyone who has access to a computer can easily Google Home Loan Arms Advantages and Disadvantages. I just did and this came up. A very easy to understand summary of ARM loans.

If someone decides during historically low interest rates to save even a more few dollars with an ARM loan then I fully blame them for the decision. Just as if you buy some hocked bullshit on a late night info-mercial.

NO ONE should be engaging in ARM loans right now. You do that when the interest rate trends are decreasing.

[jtuck004]

6. "...Anyone who has access to a computer". AND has enough financial savvy to

know this. How do you we guarantee that, especially given that at least half of the country has never been in a position to get such training?

Prior to the theft by the banks, the Presidentially-appointed Federal Reserve Chairman was asked (on youtube, it is) if all this bubbling was wise, should people be taking these ARMs and other instruments, because the value could drop.

He said he "could NOT" envision a scenario where real estate would drop across the country, and thus lent his imprimatur, and by association the Federal government's approval, of the theft. Followed by Timothy McVeigh, I mean Geithner (I get my killers mixed up) who wrote in his book that he needed to keep the banks healthy on the backs of and by screwing over working by denying them opportunity so as to keep the nation going. Else we would regret the alternative.

I regret that ass clown ever sat in a chair we paid for.

Here's alink to his book lest you wonder that someone would write such drivel. Here is another with an audience full of voters on Jon Stewart laughing in his face.

So if not the government, whom, exactly, is promoting these thrifty ideas of not using ARMS and other instruments that benefit bankers and other lowlife creeps to the person who wants a place to live? Even if they have less income and education than the super smart person up on their white horse telling people how they should be making smart decisions - perhaps they should ride that fucking horse into their employer and insist that they pay the employee decently so they can fucking AFFORD the higher payment of a 15 or 30 years term. And while playing Roy Rogers could ride over the school and ask them to educate and train the kids in a way that doesn't primarily serve the interests of the employers and bankers.

But then where would these political parties get the huge donations they get from the bankers?

Your suggestion is smart, but there are a lot of people around trying to make sure it doesn't work the way you suggest.

[paleotn]

5. Because the rates on ARMs are usually lower than fixed rate loans, even in this environment...

....The best time to really push ARMs is when interest rates are ridiculously low since there's nowhere really to go but up. 5 years ago when we bought our property, even our credit union pushed us to finance it with an ARM. My response was not only no, but HELL no!

[DCBob]

7. I just chose a 5yr ARM and it will save me about $300/month due to lower interest rate.

I plan to sell in 5 years and retire somewhere in Asia so not an issue even if rates jump.