While Obama Fiddles and Dances with Healthcare

[kyfanatic]

In the real world people are losing their homes,unemployment is still rising,and the mighty Dem answer is to worry about socializing healthcare,covering illegal aliens,and sending foreign aid to muslim countries while the people here suffer.They even stopped the cost of living adjustment for Social Security recipients.

http://news.yahoo.com/s/ap/20091015/...eclosure_rates

Foreclosures rise 5 percent from summer to fall



By ALAN ZIBEL, AP Real Estate Writer Alan Zibel, Ap Real Estate Writer – Thu Oct 15, 5:12 am ET
WASHINGTON – The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost their jobs.

The foreclosure crisis affected nearly 938,000 properties in the July-September quarter, compared with about 890,000 in the prior three months, according to a report released Thursday by RealtyTrac Inc. That puts foreclosure-related filings on a pace to hit about 3.5 million this year, up from more than 2.3 million last year.

Unemployment is the main reason homeowners are falling into trouble. While the economy is likely out of recession, the unemployment rate — now at a 26-year high of 9.8 percent — isn't expected to peak until the middle of next year.

Mortgage companies sometimes allow unemployed homeowners to defer three to six months of payments while they are looking for a job. But there's little else they can do.

"The sheer scale of the problem is preventing the loan modification programs from having the kind of impact we'd all like" said Rick Sharga, RealtyTrac's senior vice president for marketing.

Last week, the Obama administration hailed a milestone in its mortgage relief effort, reporting that 500,000 homeowners have received help since the program was launched in March. But new defaults are still exceeding the number of borrowers getting help.

Mortgage companies have slowed down the pace of foreclosures as they evaluate whether borrowers qualify for the administration's program. Analysts, however, forecast that many of those homeowners won't qualify, and foresee a new wave of foreclosed properties hitting the market next year. That's likely to further depress home prices.

Some homeowners are in such a massive financial hole that it's hard to design a modification that will actually provide lower payments. And some have avoided paying their monthly bills for a long time.

Carlos Estrada, 57, of Tulare, Calif., for example, hasn't made a mortgage payment since February 2008. The construction jobs that kept him working more than 40 hours a week during the housing boom have all but vanished.

Earlier this year, he turned down a modification offer from Bank of America because it would have incorporated his unpaid balance and raised his monthly bill. But a bank spokeswoman said Wednesday that Estrada's foreclosure sale had been postponed until late next month while the bank reviews whether he can qualify for help.

"I'm still here waiting for them to help me resolve this situation," Estrada said in Spanish.

According to the RealtyTrac report, there were nearly 344,000 foreclosure-related filings last month, down 4 percent from a month earlier but still the third-highest month since the report started in early 2005.

It was the seventh-straight month in which more than 300,000 households receiving a foreclosure filing, which includes default notices and several other legal notices that homeowners receive before they finally lose their homes.

Banks repossessed nearly 88,000 homes in September, up from about 76,000 a month earlier.

On a state-by-state basis, Nevada had the nation's highest foreclosure rate in the July-September quarter. Arizona was No. 2, followed by California, Florida and Idaho. Rounding out the top 10 were Utah, Georgia, Michigan, Colorado and Illinois.

[kyfanatic]

http://news.yahoo.com/s/ap/20091015/..._security_cola

[fishraker]

Read your link. The Obama administration and the Dems have nothing to do with no cost of living increase for social security. COLA is based on inflation, which, believe it or not, is negative this year because of energy prices.

[DJD]

Ohh Illinois made it huh? Now we will start getting some action out of Congress...can't let homeys own state look bad err I mean worse.

[Big Gills]

So I have a question for you folks which is: Does anybody know when this new health care legislation is suppose to put into effect or voted on? I recall that someone posted a link to read it so it must be finished? I have no idea about that so if anyone knows I would appreciate knowing also. Thanks

[GeoFisher]

So I have a question for you folks which is: Does anybody know when this new health care legislation is suppose to put into effect or voted on? I recall that someone posted a link to read it so it must be finished? I have no idea about that so if anyone knows I would appreciate knowing also. Thanks

We will start paying TAXES for it next year.........but the first enrollment will not take place until 2013.....GOTTA LOVE it.

TAX the CRAP out of me now, for something that will probably be repealed by the PUBS when the get back in office in 3 years .

Actually it will probably be repealed NEXT year..... . ONE can only hope.

Later,

Geo

[Big Gills]

Thanks George, so will all American citizens be mailed what the new health care reform will entail so everybody will be aware what they are paying more taxes for? You gotta hope so.

[GeoFisher]

Thanks George, so will all American citizens be mailed what the new health care reform will entail so everybody will be aware what they are paying more taxes for? You gotta hope so.

Doubtful........THEY don't even know what it will entail.......

I know this....you could give EVERY uninsured AMERICAN a health plan for about 1 TENTH of what they are proposing.......

Let Companies like Humana, United HealthCare, BlueCross, etc, etc, FIX BID on a contract to service the uninsured. I BET all PRIVATE insurance companies would be salivating at the opportunity to insure these cases with a special High Deductible Catastrophic plan.....

Later,

Geo