Michigan in top five for underwater mortgages!
Posted in the Canton Forum
#1 Mar 20, 2013
Well, the state of Michigan has made it into another dismal rating in hard times in America. Michigan is in the Top Five for underwater mortgages in the United States. Underwater means more is owed on the home than it is worth. Another sign that Michigan is sinking. I am the author of "I Warned You ALL" in another post on this site. I predicted in 2009 that Michigan would sink to a frightening LOW economically if Michigan did not alter its most expensive policy of holding on to their "truth in Sentencing " law which costs the state over 2 billion dollars a year.
Still, no one is listening as the state continues to sink lower and lower. Theres really no sense in keeping all the thieves in prison for so long, theres not much left in the state to steal.
The world is watching as politicians continue to PLAN and CARRY OUT the states total destruction.
#2 Mar 20, 2013
Yea, my property taxes just went down again. The home is as good as always. Now I'm forced to pay lower taxes. Dam it.
#3 Mar 20, 2013
Who are you trying to kid Jason? You live in your mothers basement. Your mother has property taxes not you. It's getting late shouldn't you be getting your dancing costume on?
#4 Mar 23, 2013
PETE.....we're not taling about property taxes...we're talking about the fact that a home that some one paid 175 thousand dollars for ten years ago, a home they still owe 110 thousand dollars on today...is NOW only worth about 80 thousand dollars...making the CURRENT value of the home LESS than what is OWED on the home. Underwater mortgage.
Who wants to be making payments on a home where the amount of money a person OWES on the home is MORE than the home is worth? No one.
The entire idea that long ago some one made the mortgage system we have in place today that is ALL about the bank or the mortgage company and offers the buyer NO safety net is ludicrous. Who ever thought of the system that the the way to buy a home is to borrow a little, and then pay for the home ALL of their lives...is a thief. And thats the system we have. FEW people in these times have the same job for thirty years yet thats how your mortgage works, you pay EVERY MONTH for thirty years, and if you miss a few payments, out you go. Who ever thought of a system whereby if a person BUYING a home loses their job, they STILL have to make their house payments, ALL while trying to feed their family and pay other important bills, or LOSE the home....is a thief. America is run by thieves. What if your car breaks down? What if some one in your family has to go to the hospital? What if some one dies and you have to shell out a few thousand for a funeral? Average people don't HAVE that kind of cash laying around.
Americans are being DISMANTLED by the American government.
WAKE UP! Politicians have new cars, wear suits, go on vacations, work in air conditioning, send their kids to the finest schools, are able to pay ALL of their bills and live in beautiful homes and live comfortable lives.....even while half of America struggles to exist from day to day and put food on the table. And all the news talks about is how the politician are trying to tighten the noose around our necks in order to get aid!
Wake up America.......please wake up.
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