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FIND YOUR DREAM HOME OR APARTMENT
must-see on msn
geeeezzzzz, msn, how many times are you going to recycle the same old articles???
how about some real news with some comment sections
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
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.
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.