Foreclosures In Connecticut, Nation A...

Foreclosures In Connecticut, Nation At Record Rate

There are 67 comments on the Hartford Courant story from Sep 6, 2008, titled Foreclosures In Connecticut, Nation At Record Rate. In it, Hartford Courant reports that:

As the subprime lending crisis continues to unfold, the rate of foreclosures and seriously delinquent home loans has reached its highest level on record for Connecticut and the nation as a whole.

Join the discussion below, or Read more at Hartford Courant.

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Bnkgreed

Windham, NH

#63 Sep 6, 2008
So as I was saying Mr. Financial Pro. As of this writing today is 09.07.08 Please read the articles that prove my point that Freddie and Fannie disconnected the dead man switches in favor of profit. Turn in your License your giving advice while under the influence of grandeur .
FAV

East Hartford, CT

#64 Sep 7, 2008
Todd wrote:
FAV,
What you don't get is that those "Investors" that were sold MBS, were "demanding" them because they offered them a higher return than say a treasury bill. Was Wall Street supposed to back off this high demand? The investors didn't see the real risk of crashing home prices since they got comfortable with low delinquency rates during the late 90's early 2000's.
The high demand was promoted by Wall Street with the collusion of the rating agencies who overrated the "securities". Moreover do you think a prospectus would tell you that many of these mortgages were obtained without a nickel down? No, but they'll give you the latest S/P or Moody's ratings.
Mike Tyson

South Windsor, CT

#65 Sep 7, 2008
Nobody bailed me out when I lost my crib in Farmington.
Tina

Woodbury, CT

#66 Sep 7, 2008
When was the last time you stepped into a classroom? What makes you think that teachers work 9-5? You are entitled to your opinion, but please keep in mind that teachers work beyond their hours, or late at night after their family has gone to sleep. Most teachers spend their own money to purchase some of the materials in the classroom. Are you familiar with the rigorous process to becoming a teacher in our state? It's not only a lot of work, but it's expensive. It's not only a career, but clearly a personal choice to serve the community.
For What it is Worth

New Haven, CT

#68 Sep 7, 2008
Mike Tyson wrote:
Nobody bailed me out when I lost my crib in Farmington.
Yes but I believe it was already a foreclosure from the Colonial Realty scam fall out
Shoreliner

Branford, CT

#69 Sep 7, 2008
FAV wrote:
<quoted text> Shoreliner always at the ready to blame the victim, just what Big Brother would want us to believe. The real responsibility goes to Congress and our regulators. During Clinton's watch, his Wall Street honcho Treasury Secretary, Rubin, got legislation through Congress that rewrote securities laws that were put in place after the Great Depression to protect the public from Wall Street's excesses. The dot-com scams were a direct result of this, as managers had even less to fear when "cokking the books". As the investment banks were allowed into insurance and other financial endeavors, they became giants. With the expansion of the derivatives markets, Wall Street has already become the Mother of All Casinos, but they hochos came up with a bright idea. Since the mortgage market is so massive, wouldn't it be nice to be able to securitize mortgages and sell them to investors. We all know the rest of the story, the Investment Banks, like the rest of the Supergreedy on Wall Street, didn't know when to quit a great scam while they were ahead, and got caught with their pants down, and some with tails between their legs scurried over to the Fed's discount window for a bailout. And so it goes in the Mother of all Banana Republics.
Did Congress or any branch of government have a gun to a borrower's head to sign the loan documents?

Unfortunately, as much as you may want to try, you can't legislate common sense.

That is the real issue here.
No San Fran Nan

United States

#70 Sep 7, 2008
Points To Ponder wrote:
The real problem for home owners are the escalating property taxes caused by the greedy and overpaid teachers. But, the news media refuses to publish about this atrocity of people losing their home to excessive property taxes because they are in sympathy with the greedy and overpaid teachers. Most of the teachers have liberal arts degrees. A liberal arts degree is basicaly "UNSKILLED" and nothing more than a glorified high school diploma --- Thus, the teachers do not deserve these high salaries and early retirements with "golden handshakes". An "unskilled" college degree in the liberal arts is relatively easy to get and has no "skills" as in contrast to a professional such as a doctor, lawyer, accountant, engineer and etc. With an unskilled college degree, if they were not teachers then they would only be qualified to flip hamburgers at a fast food restaurant. The real teachers are those that write the textbooks and not those doing the instructing in the classroom--- They simply "mimic" what is in the textbook. Our hearts go out in sympathy to those victimized by the ravages of fires, floods, hurricanes, tornadoes, earthquakes and other natural disasters --- Yet, they are in better shape than those victimized by the property taxes because if they have insurance then they can recover. Plus, they get the sympathy of the news media. Property tax victims cannot recover but instead must lose their homes to the evil property taxes caused by the greedy and overpaid teachers. The news media refuses to publish the atrcocity of those victimized by the property taxes --- I know that to be true because I've begged the Courant to allow me to describe what is going on in a letter to the editor.. The Courant refuses to acknowledge the situation. We have a national atrocity going on that is teacher caused in the property taxes and the news media refuses to report about it. Instead, the Courant will only report about other economic factors as the cause to losing homes. I look at it this way : The communists and Nazis and all of our historic enemies never stole our homes away from us but that teacher caused property tax is sure denying home ownership abilities. So, who's the worse and more dangerous enemy ? The greedy and overpaid teachers or our historic enemies ? The answer is the greedy and overpaid teachers that get these outrageous salries and benefits because of their powerful unions, propaganda machines , teacher friendly laws and allies in the news media. We have an atrocity afflicting home owners that the news media refuses to report. I will never forgive the news media for refusing to report about this and refusing to allow me to write about this. What is going on is unforgiveable. I wish that the Courant would devote a fraction of one percent of coverage to the property tax victims that it does in the contrast of promoting and glorifying lesbian life styles --- If that were allowed, this atrocity would not be permitted as a matter of morality -- But, the editors receive high salraies and they can afford these property taxes unlike so many other that cannot. So, the editors don't care.
Agree that the property taxes are so out of control that one can lose a mortgage free home because the LOCAL GOVERNMENT has the ability to spend freely and reach into the homeowners' back pockets with NO recourse on the part of the homeowner.
YOU ARE WRONG to blame teachers and call them names. Go to your town meetings and LISTEN to the pork in the school and town budgets that has NOTHING to do with teachers.
Only in the northeast does this tax you out of your home occur.
Other states have education budgets funded by the state, which taxes on ABILITY to pay rather than some arbitrary appraiser walking through your home for 15 and deciding whay you can afford.
The tax system needs an overhaul.

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