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4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014

 
Gnostic Warrior
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05/20/2014 03:01 PM
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4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
(Written By Moe) - The alleged good mortgage news is out. The delinquency rate on home loans in the U.S is currently at the lowest level in the last 7 years and it has also fallen for the first three months of 2014.

It wasn’t too long ago when you would turn on the TV, or open up the newspaper to find a featured news piece about the mortgage and foreclosure crisis. Countless stories about struggling homeowners seeking mortgage assistance and then being foreclosed on all across the U.S. seemed to be an everyday normal occurrence.

The beginning of the mortgage crisis officially began in 2007 and peaked right around the end of 2009 when there were approximately 6.6 million delinquent mortgages. Fast forward to today, and that number has dropped by about 2 million to 4.4 million overdue home loans. Meaning that about 33% of these at risk loans have either been foreclosed on or some type of loan workout performed on them such as a loan modification, short sale or deed in lieu.

Is this truly good news, or just silver media mortgage lining in a glass that is still over half foreclosure full?

I’d bet my money on the latter…

Why am I so mortgage doom and gloom? One of the reasons is the fact that our nation’s senior citizens are getting hit really hard on their mortgages which will be evident to you once you read the numbers I present below.

Since 2011, according to the Consumer Financial Protection Bureau (CFPB,) homeowners who were 65 years-old and older with delinquent mortgages rose from 22% to 30% and the amount they owed on their mortgage increased to $79,000 from $43,000. The scary mortgage numbers are the facts that from 2007 to 2011 these same seniors were 90 days past due or more had risen over 400% from a low of 0.85% to a current 4.96% and homeowners who were older than 75 saw an increase in mortgage delinquencies rise almost 600% from 1.01% to 5.87%.

These numbers clearly indicate that the mortgage problems on Main Street are a long way from being alright and that millions of Americans are struggling to pay their mortgages. The facts are that we still have another 66% or over 4 million delinquent home loans that still need to be addressed. Many of these people are senior citizens and the most vulnerable of our population.

- See more at: [link to www.loansafe.org]

Last Edited by Gnostic Warrior on 05/20/2014 03:22 PM
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

User ID: 16482663
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05/20/2014 03:12 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
I guess ya all think we should kick granny to the curb?
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
BunBun

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05/20/2014 03:14 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
No. I think that by the time I finish paying for my 62,000.00 house, I will have paid 120,000.00. That's what I think.
Christard and Lover of God
Anonymous Coward
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05/20/2014 03:17 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
The banksters aren't done stealing homes and property yet.


The true amount of empty bank owned properties will never be known, but there is a lot. Many of the shady LLCs buying everything at auction are fronts for banks.
Gnostic Warrior  (OP)

User ID: 16482663
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05/20/2014 03:20 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
No. I think that by the time I finish paying for my 62,000.00 house, I will have paid 120,000.00. That's what I think.
 Quoting: BunBun


That's if you make it that far.

What if you lose your job or income?
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Gnostic Warrior  (OP)

User ID: 16482663
United States
05/20/2014 03:21 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
The banksters aren't done stealing homes and property yet.


The true amount of empty bank owned properties will never be known, but there is a lot. Many of the shady LLCs buying everything at auction are fronts for banks.
 Quoting: Boris the Cat


It seems like it is all part of an agenda kind of like Agenda 21

Willy
Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!
Anonymous Coward
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05/20/2014 03:22 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
The banksters aren't done stealing homes and property yet.


The true amount of empty bank owned properties will never be known, but there is a lot. Many of the shady LLCs buying everything at auction are fronts for banks.
 Quoting: Boris the Cat


The banks steal from us while we "lease", (property tax), the property from the gov.

About the only damn things I really "own" is my bicycle and and an ice chest.
Gnostic Warrior  (OP)

User ID: 16482663
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05/20/2014 03:27 PM
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Re: 4.4 Million Delinquent Mortgages and More Seniors Face Foreclosure in 2014
The banksters aren't done stealing homes and property yet.


The true amount of empty bank owned properties will never be known, but there is a lot. Many of the shady LLCs buying everything at auction are fronts for banks.
 Quoting: Boris the Cat


The banks steal from us while we "lease", (property tax), the property from the gov.

About the only damn things I really "own" is my bicycle and and an ice chest.
 Quoting: Carpet Gnome


word

But even that bike and ice chest doesn't go to the grave with you.

The true riches are as Bob Marley had said;


Regards,

Moe

[link to GnosticWarrior.com] THERE IS A WAR FOR YOUR SOUL!

[link to www.LoanSafe.org] FIGHTING BIG BANKS!





GLP