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Mar 13, 2014 12:57PM
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Banks have no reason to negotiate terms, to extend the period, lower the rate, etc.
They are backstopped against any losses by FHA in most cases and can write off all of the fees and interest above those limits as bad debt expenses, lowering their taxable earnings on paper losses. It is the same game that predatory credit card lenders play in that respect. 

On the flip side, people got into these homes with little to no money down, the walk away with the same. 

Time to move on. Stop looking for someone else to blame for the decisions you've made. 

So you will know that I am not just another heartless Republican; I have gone through personal bankruptcy and been foreclosed out of my residence; I put my life back together, rebuilt my credit and when the time was right, again became a homeowner.

Mar 10, 2014 12:08PM
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geeeezzzzz, msn, how many times are you going to recycle the same old articles???

 

how about some real news with some comment sections

Mar 7, 2014 10:38AM
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I am living in FL and have been in foreclosure 5 6 year's now and moved out for fear of someone coming in and selling what little we do have, We move 3 year's ago I think the mortgage has been sold three or more times to different banks. I don't  even know if this is legal. We cant afford a lawyer

Help. 

Mar 7, 2014 10:01AM
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A dint of your "super rich" are starting to hand back the surplus that they have. Really they should be looking for ways of creating jobs with the cash back, say subsidising industry to keep the functionality in the country as opposed to outsourcing to say India and the Philippines. Create jobs locally so people can pay for their mortgages. Do note, if you want people to pay for the mortgage,  remunerate them fairly so they can afford to pay for the mortgage. No one works for peanuts in Australia. If you pay peanuts.....expect a chimp.

True Ozzies seldom tip for service, Why? We pay our people fairly, we do not expect staff to " Pole and Tap dance" to the customer, like prostituting themselves for tips.  What's next a gladiator ring?


The wars that you enter..... your troops that pay with their lives. Are they part of the can affords or the working class?  


Lastly money buys the best lawyers in your country. Lohan and Beaver making a mockery of your judicial system. 


Down Oz to buy property you need hurt money in the equation 5% at least. To avoid mortgage insurance you need an additional 15% in the equation. Who underwrites the insurance? GE and similar American institutions. Aside from the fact that you do not walk away from assets with 20% equity, if you default, the property is sold by either the Bank or Mortgage Insurer, any shortfall on sale, remains the liability of the borrower (not the Bank). You need sensible Real Estate laws to make it work.  Act now before it becomes the big American "Wet" Dream.    


  

Mar 6, 2014 3:18PM
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All the states shown have beautiful photos highlighting their "best view".  The photo of New Jersey is the only misleading shot making New Jersey look like a "ghetto". New Jersey is a beautiful state and the author of this article obviously chose to depict it in a most unflattering way.  What an ****!
Mar 6, 2014 1:24PM
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No WI FI in her grocery cart ,just some old clothes, all that was left after paying on her house for 20 years, coming down sick, no longer able to make payments, being foreclosed on and becoming homeless...  Can't understand why she doesn't  have WI FI, can you?
Mar 6, 2014 10:52AM
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There are ways to modify loans to allow people to continue to pay for their homes without the lenders giving up any money.  For instance, extend the terms of the loan from 30 to 40 or even 50 years or make adjustable loans fixed.  For instance, lower the interest rate and thereby the payment to a level that the current borrower can pay.  It will at least allow the market to come back enough for the borrower to sell the home without a foreclosure.  For instance, allow short sale of the home which would allow the borrower to qualify to purchase a more affordable home in the near future.  The serving companies make more money foreclosing so they are not interested in helping borrowers.
Mar 6, 2014 10:27AM
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YOU DO NOT hear about all the home invasions there they keep it under wraps huge problem there so is buglary. I suggest before commenting go look at the stats high crime area lAS VEGAS and people do not stay on the strip they go to the GC. RED ROCK Lakes hoover dam etc. your wrong about that too and the station casinos until they filed bankruptcy. They suck you never win I know people who been there all their life never hit for over 800 dollars. pathiec. Its a tourist trap with lurking demons in the wings.
Mar 6, 2014 10:23AM
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yep so great vegas that is why so many in are forclosure. Right you are lucky  you got there when you did I do know Vegas well and its a invested with less than individuals that have gambiling habits or do not gamble at all you can not walk there in the summer in less you want to die of heat exhaustion if your a desert rat more power to you  I love the landscaping of Nevada Ca AZ I own prop in AZ so it is not the land but the peple who inhabit these places that are not expensive and can not afford to go to upscale places and unfortunatly most poor people are poor because the state of mind they are in got no education on disability or gov assistance and this is what places like that attract. So more power to you you are probaly a guy who can defend yoursefl as well makes a huge difference.
Mar 5, 2014 9:17PM
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if the government give the same interest % to the people instead of the banks who use us for all these years as slave we will not have all these problems and the economic of the country will be much better know because people have more cash to spend in to other things
Mar 5, 2014 7:01PM
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Hi Guys, How much research do you think was actually done for this article? It wouldn't suprise me if they only consulted Wikipedia for their "research". The only reason for this train wreck is to get all of us to place blame and finger point. I'm willing to bet that the authors next explosive article will be based on the comments that they are reading right now.

The Mess was created by many different factors; Dreams that were not reality based and greed. There were those who knew what was going on and they escalated it trying to get wealthy and their piece of the pie before it all came tumbling down. Those who had problems because of the crash (job losses, etc.) are the end result.

Mar 5, 2014 6:58PM
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my question is how come every state in this list has beautiful appealing pictures of the state which makes you want to move there...EXCEPT NEW JERSEY... the only picture they can find is that of a burned out boarded up graffiti'd building with homeless people walking by it!!! Really is that the only thing that they see in NJ. Good then stay out
Mar 5, 2014 6:22PM
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anyone surprised that florida is number 1??

horrible criminal governor, horrible repuke policies....this is the result
Mar 5, 2014 4:01PM
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California should be number 1 not number 10.  MSN get your facts straight
Mar 5, 2014 3:34PM
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$15 B for Ukraine would purchase outright 50,000 houses that cost $300,000 each.  Anything but help Americans!!!!!!!!!
Mar 5, 2014 3:19PM
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Foreclosures rose because servicers make more money foreclosing than they do making loans work for people or from short sales.  It is all about making money, not about helping homeowners keep their homes.
Mar 5, 2014 3:11PM
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With the exception of Illinois, they are all east/west coast states. No surprise here.
Mar 5, 2014 2:58PM
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Not to mention bugs all over horrible job and poverty level. Horrible colleges. Horrible people. Very transient. Do not move to Las Vegas unless you love to swelter in the summer and get mugged everytime you leave your home. They sure keep that under wraps.
Mar 5, 2014 2:57PM
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I lived in Vegas home invasions you do not hear about DAILY my sons house got robbed weekly he moved out of the state. I had an alarm system still had problems Vegas is high crime and they wont let people know about it cause of tourist.
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Great deals in Detroit plus few neighbors
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