Home Foreclosures On The Rise: Over 3.5 Million More This Year

It was reported in Realty Trac this week that the second quarter figures are in on the continuing mortgage and foreclosure mess, and exceed by 5% the figures from summer to fall.

Summer, however, actually is the highest sales month for home sales historically.

The foreclosure figures to date far exceed those that are purchasing new homes at this point, except many being purchased now also by foreigners due to their higher currency exchange rates such as part time and relocating "global" employees from Canada and Great Britain primarily.

Most of the homes now in the French Quarter of New Orleans post-Katrina are listed by a British realty firm, not even U.S., and are being marketed primarily to Europeans since Americans are literally eating the debts of the world at this point, and losing their homes and jobs right and left because of this now "global economy" and continuing "global war on terror" (of course, while our own southern borders still remain unsecured eight years after 9/11, with a domestic spying program instituted in violation of Americans civil and Bill of Rights protections instead so that the "global community" can continue to victimize the American public, by and large.

Even at those rock bottom prices in the West and Southwest, few Americans can afford to purchase a new home, and many who have been through this tsunami will be prevented from doing so due to their credit history now for years to come. And having seen how much Washington protects the foreigners at the expense of the Americans does make one pause to trust the banks at this point, since it was the banks that based a great many of these loans sold in the West and Southwest on London market rates, and not even U.S. prime rates at all by some of those California and Illinois based lenders who were marketing in a number of states in the country. But primarily the West and Southwest, and Sunbelt states.

Which, of course, had the highest number of foreclosures on the list.

Over 3.5 million this year so far have lost their homes, up from 2.3 million last year at this time.

Nevada lead the pack and Arizona a close second. Followed by California, Florida, Idaho, Utah, Georgia, Michigan, Colorado and Illinois.

From a former Arizona resident and victim of the land and property theft that has progressively gone on in that state since the 1970's recession, and then the Keating disaster of the 1980's when all the savings and loans went belly up, the states involved with the highest numbers are no surprise.

Most are non-judicial foreclosure states, affording sheriff's sales and foreclosure proceedings to begin anytime after 90 days. And those states have by far more realtors than any other, and are foreclosure "industry" legislated states to begin with. Even homestead protections are no protection, since most of them also have high numbers of mega-developments and retirement communities that are also subject to extra property taxation in the form of homeowners associations.

Which have also been given lien and seizure rights in priority to even mortgagees for past due "assessments" or property taxes, and so many of these foreclosures that are going on are also homeowners association initiated foreclosures, which is what has been kept also out of the mainstream media and press.

The lawyers for the banking and foreclosure industry advise most of the Boards of Directors of those HOAs, and so work in concert many times, with homeowners receiving threats from both the banks, and also their "involuntary servitude" associations, since the laws also in those states have progressively also become more favorable to those "corporate" socialized housing communities throughout the years.

Many homeowners initial deed restrictions and obligations have fundamentally changed due to industry lobbying efforts on the part of the foreclosure industry itself. And during the boom, homeowners in Arizona were receiving fraudulent foreclosure notices initiated by some of the scam artists within that industry also that operate there and in many of the high retirement community states preying upon the elderly, minorities, or single women most of all. Or anyone that has a great deal of bulit up in their home since such information is public knowledge and available now through searching public records. Which a great many of those foreclosure industry lawyers and realtors do quite regularly in order to stimulate their economies at the public and homeowner's expense due to the amount of competition in many of those states between realtors, lawyers and the multitude of individuals that get a cut of the sale when a house is sold and changes hands.

Frequent turnover, after all, creates jobs and more debt. Not paid off mortgages and homes. So much of what is going on especially in the West and Southwest has been purposely manipulated by both Washington, and the local and state governments for their campaign contributors and also due to progressive lobbying of those industries up to this point during the 1980's and 1990's particularly.

Realty Trac's figures and reasons were aligned with job losses and unemployment, since at 9.6% it is at its highest levels in over 26 years. However, mention was made of the recent gains made in Wall Street, and that salaries in the financial sector were resuming back to normal.

Gee, I wonder why the "global" stock market would be improving, while the American economy continues to tank. Couldn't be that Washington is sacrificing our country's economy and citizens in order to bulk up and impress some of those G-20 attendees that are now heavily invested due to this "globalized" economy in American businesses and now even real estate, and more and more even our public utilities and infrastrucure at this point.

Such as Palo Verde Nuclear Generating Station in Arizona, which was "privatized" many years ago and shares are now sold on the "global" exchange to foreign investors.

Kind of makes you sleep well at night knowing that foreigners now own stock in our nuclear power plants and generating stations, doesn't it?

While the banks continue to represent that they are assisting these homeowners, it is becoming more and more clear is that they are stalling and adding those junk fees and costs as they "process" these applications, and are there mainly in order to negotiate down the obligations due some of those foreign investors, and then also scam some great properties to flip in the process. I'm sure that is why the financial sector is recovering, while Americans continue to lose those homes - even after all those front end junk fees and costs were levied included within hose creative 60 page loan documents that progressively have occurred.

Which now even affords the banks, without your knowledge, to resell your mortgage to another company without your prior knowledge or consent, except in the fine print of those loan documents. Which language now is industry standard, so it's not like you can shop anymore for a loan like in the old days where a loan was fixed until it was paid off. And was even assumable for any new buyer that qualified upon sale.

The banks have recovered? How could they have been struggling, since they are branches of the Federal Reserve, who does print the money. The only "solution" that occurred was that the Fed simply printed up some more, and redistributed it through it branches in order to use those branch banks to negotiate with the foreigner investors.

And if those loans were resold on the global market, then these U.S. banks are nothing but middle men and not holder of those debts at all at this point, the investors who bought those mortgages are. Those homeowners, it would appear, actually have no underlying debt to the banks - but to those foreign investors who actually hold those notes.

Actually, it appears that the U.S. mortgage foreclosure mess is nothing more than a huge global Ponzi scheme, at the American taxpaying citizens and those homeowners expense, at this point (since they are also going to be carrying their share and load now of this debt, in addition to having now lost most of those fees and costs which were collected up front upon the original sale).

Due to federal negligence and encouraging "globalism" rather than "protectionism," of the U.S. citizens and their economies as priority to any "global" gambling market. Which is what the stock market is, actually, a huge federally sanctioned gambling pool.

And it has been the Americans that have been "crapped out" by Washington for the "greater good" of the "world (bank) economy."

Global socialism, actually, in plain language.