Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Sandy asks…

Which part of The Constitution gives Congress to power to freeze foreclosures and roll back interest rates?

I heard Hillary on the radio advocating a 90 freeze in home foreclosures (on sub-prime loans) and a 5 year freeze on interest rates (on sub-prime loans). Just where would congress get the authority to void millions of legal, private contracts, freely entered into by millions of people, under the existing laws of the 50 states and territories?

For all of you who are worried about your rights, doesn’t this make what President Bush has done pale in comparison?

Your Questions About Foreclosures

The Expert answers:

This is an excellent example…(And many of the dems policy initiatives are similarly repugnant to those who support the Constitution).

For Dems, the Constitution is an abstract, arbitrary, obsolete construct.

They frequently deal with it only as an obstacle that is to be circumvented (because overtly violating it has no support among the public).

Your Questions About Foreclosures

Nancy asks…

Does anyone know the statistics of foreclosures Acorn is responsible for?

How many people did they help house that later foreclosed?

out of all the foreclosures what percentage can be blamed on ACORN?

Your Questions About Foreclosures

The Expert answers:

That’s impossible to determine – the irresponsible lending forced on the “Lenders” by AHC (ACORN Housing Corporation) is continuing to increase.

If you want to understand how ACORN uses blackmail tactics and undermine the US economy, please read:
http://www.consumersrightsleague.org/UploadedFiles/ACORN_AHC_Report.pdf
“ On the Web, you can still find CRA loans available via ACORN with ‘100 percent financing . . . No credit scores . . . Undocumented income . . . Even if you don’t report it on your tax returns.’ Credit counseling is required, of course.“

Your Questions About Foreclosures

Richard asks…

When does the moratorium end on foreclosures?

Are there a lot more foreclosures hitting the market soon? i hear some people are living in there home for 12- 18 months without paying any mortgage, how long will this go on. I understand they are doing this to prevent houses from sliding further, but eventually they will need to have these homes foreclose.

Your Questions About Foreclosures

The Expert answers:

There is no moratorium on foreclosures. They are happening every single day right now.

Some people live in their houses that long because the lender is so backlogged with foreclosures to complete.

‘They’ are not letting people live there to prevent price drops – just isn’t happening.

Good luck!

Your Questions About Foreclosures

Lisa asks…

Conservatives, are you against foreclosures or houses being burnt down?

Either by foreclosure or house being burnt down, someone has lost their home. I secretly think republicans are for foreclosures, because this will mean more reasons for people to not vote for Obama.

Your Questions About Foreclosures

The Expert answers:

If you can’t afford the mortgage, don’t buy the home.

I feel bad for the people who lost their jobs and got foreclosed but I don’t feel bad for the idiots who bit off more than they could chew buying an expensive hope then living by paycheck with the rest.

Your Questions About Foreclosures

Joseph asks…

The recent foreclosures will affect the US banks in a big way, is it true?

What do the analysts in the US feel about the ongoing foreclosures?

Your Questions About Foreclosures

The Expert answers:

Though the opinion among analysts seem to be divided about the impact on the different banks in the US, but majority seem to agree that tht foreclosures are going to affect US banks.

The bank shares whether The Bank of America or JP Morgan Chase have registered notable declines.

The problem is expected to last about five years and presently, several major institutions in the US including JP Morgan, Bank of America and GMAC Mortgage have put a halt on the foreclosures in several US states

The issue of foreclosure is being regarded as a major risk for the banks

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures