Thursday, October 15, 2009

U.S. Mortgage Foreclosures--425 per hour!

Yup! The U.S. mortgage foreclosure rate, right now, is at 425 per hour according to the same people who earlier this week announced the recession is "over". That's 10,200 a day and 306,000 in a 30-day month. This is more than 3.6 million foreclosures a year!

The greatest numbers of foreclosures are found in California, Nevada and Florida.

Meanwhile, the tax payers have 'bailed out' the 'banks' and their corporate employees with tax dollars and in the 3rd Quarter these 'banks' have posted record profits (in the billions) and look toward giving bonuses to these 'employees of the people' (taxpayers own up to 80% of some of these organizations).

Whatcha think?

John

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