This week marks a dismal point in American history. We have cleared 1,000,000 foreclosures for 2009 already. That’s 1 foreclosure every 13 seconds, or about 6,600 a day. The Center for Responsible Lending has a catchy little ticker HERE.
Screenshot of the foreclosure ticker
The horrific issue of rising foreclosures permeates so many aspects of American life that it’s tough to pinpoint the exact point where things went wrong. Who’s to blame? Predatory lending practices? Over-zealous borrowers? A society lacking accountability? A culture of lies and falsification, all in the pursuit of money? An overly optimistic populace? A greed mentality? Lack of Government controls on banks? A hybrid of all of the above?
Our thoughts? Actually, we think Read the rest of this entry ?
