County eyes foreclosure moratorium

Northampton County is researching whether it has the legal authority to temporarily suspend sheriff sales to try to help residents whose homes are in foreclosure.

[nails bricks boards]

The basic need for all humans is shelter, yet as a society we struggle with this need with a system of false values, corrupted mortgage lenders and affordability of the consumer. It is time to over haul the entire system and create a system that provides affordable housing for everyone on a equal bases. To go in any other direction in this matter will fail society in due time.

[ted]

Why reward people for bad decisions. Most of those facing foreclouse knew from the start they could not make the payments. Time people learn to do the right thing and not look for bailouts. I managed to raise 4 children and pay off my house without crying or looking for handouts. McCain's man is right, we are becoming a nation of whinners not winners. That must be the schools best accomplishments, turning out flocks of irresponsible drones to be led by the liberals.

[Murphy]

I agree with Ted. I managed a mortgage on my own, but did WITHOUT a cellphone, 42" plasma, getting my nails done, etc... and was proud of it. I understand "living in the moment", but that also involves being responsible!

[Niko Belic]

Most of these people knew they couldn't handle the payments so why should we have to bail them out. Let them learn a lesson. Just like some of the people with ARM's. What, did they think the interest rates would stay at historically low levels forever. Sorry, but I don't feel sorry for these people.

[RRNK]

At the end of the day, it is a very sad situation for these families. I agree, they are responsible for knowing the terms of the mortgage note - I didn't care how annoyed the loan closer was - I read EVERYTHING and understood what I was signing.

I make the assumption that if you're signing mortgage documents, you are functionally literate. So saying I wasn't aware, I was promised, they told me... is NO excuse for ignorance.

[Mike]

NO! NO! NO! NO! NO! These yuppie scum have over the last four years driven up the price of real estate so high you can't even rent a place to live for less than half of what you make except in the crappiest crime infested neighborhoods. So let them take what's coming to them. Then maybe the prices will start coming down a bit.(After all, it's not like the city's going to crack down on the landlords who rent to the criminal and drug using scum...)

[Fries With That]

Lets see we turn people over to Portnoff for Late Tax Payments who adds fees and then forces a tax sale but we are blocking the sales on homes for people who bought homes they couldnt afford? This is not the county's right to do!

[STEELERSFAN]

When people start to accept the reality of how the problem was created is when it will begin to become a solution. Prices went up too fast and doubled in this area like many other areas of the country. Prices began to get out of control during the mid to late 90's. That's when housing was rising at 3-5% a year. That was way to much. Then comes the dot.com crash and that recession and the government created the housing/credit bubble. Prices doubled from 2001-2006 and that's what has created this disaster. Until prices get back to 1998 levels (and they will) this bubble is not broken.

Get the facts and don't listen to what the cheerleaders of realtors (morning call reporters) are saying. The morning call like the majority of other newspapers make the bulk of cash from ad's from realtors and the housing market. The lie and deceive the public (those who are dumb anyway) and people bought it.

http://patrick.net/housing/crash.html

http://thehousingbubbleblog.com/index.html

http://njrereport.com/