Defaults & Foreclosures Account For Only 1 in 10, & 50% of those are Subrime Borrowers..

In translation that means this: the millions of people that are being bailed out by Obama and Crooked Congress are only 10% of American Mortgage holders so it's not exactly the huge problem being exploited by the Messiah and also shows that 90% including myself are adhering to their contracts as signed.

As if that isn't insulting and enraging enough, half of that 10 percent didn't even deserve the mortgages they got in the first place as they were already determined to be high risk borrowers before even signing the damn paperwork. And from that 10% 33% of those are ILLEGAL ALIENS! Are you getting madder yet? That's not even all of it.

So for those people, Barry Hussein Obama has determined we people who've paid our bills diligently are now to be responsible for the undeserving, defaulted Borrowers or should I just call them robbers since that's really what they are. And we're also being penalized for the subsection of crooked and greedy lenders making loans they knew off the bat were at at least 50% risk of default just by looking at the credit scores, a 10cent sheet of paper which should have ended the house hunting before it began for most all of those people saving America hundreds of billions.

These were obvious flaming red flags that were simply fudged & ignored from bogus information provided by those subprime borrowers who've obviously been in default before, hence the sub prime classification, and from those previous experiences they all knew how to game the system set up for honest people exploited by the dishonest with their bald faced lies knowingly providing false and thus more favorable information easily checked for authenticity in this techno age, period.

And that's not even factoring in that out of these 1 of 10 subprime candidates is that 33% of those borrowers were illegal aliens, a little nugget of information that the government doesn't want too publicized for fear of the nationwide outrage and subsequent backlash that would ensue against that well known segment of the population from coast to coast.

All the while worrying more about the "poor old hard working illegal aliens plight" than the plight of Joe and Suzy Good Credit and the endless hard work they must both put in to maintain their jobs and A1 credit rating..

So in reality (which has left the room since January 20th), instead of being coddled and bailed out with our future mortgage & car payments, these offenders should all be identified and pulled aside, investigated and then vigorously prosecuted for mortgage fraud, bank fraud and any other fraud they can come up with in their investigations which I'm certain will be plenty.

Then after the legal process runs it's due coarse likely at our expense as well in the form of public defenders, and if found to have uttered or penciled in even one little white lie to inflate their income, employment or their immigration status information, they should all be rewarded with a free unit in public housing units from sea to shining sea.......in their respective state prisons that is.

And that's just for the mortgage fraud. Then start prosecuting them for all the other financial related defaults and fraud they've accumulated along the line, most figuring all along they would never have to pay these bills, especially those multiple professional bankruptcy filers that are in that same group as well. Those old pro's should be double prosecuted for the initial bk fraud they likely perpetrated at an earlier time and in earlier scams on banks and government agencies like SSA and HUD.

Last but not least let us not forget the illegals around the country who bailed only after thoroughly trashing their borrowed residences on their way to the southern borders, high tailing it back to Mexico thinking they're home free, which sadly they mostly are if not stopped at the border on the way out (now there's a laugh).

By the way, this little video is just one story done on what many of those homes looked like when they were so ungraciously abandoned back to the banks, who are of coarse now sending us the bills for. What you see here is incredible disrespect for America, it's system and people like you and me who abide by the rules while these lowlifes run roughshod over everything we stand and work for day after day.

And should anger the F**K out of all you honest Americans who play by the rules:


Yet another reason emerges how the illegal population sticks it to Americans coming and going in addition to our very own born and bred American f ups and lowlifes who also make gaming the system set up to aid the real American unfortunate, needy and disabled of the country their full time job thanks to liberals refusal to take the hammer to these criminals.

In fact Obama the great is now rewarding them for their failures and crimes. What a bum.

Subprime Mortgages: 48% Late or Foreclosed

| Real Estate | Money/Investing | Mainstreet: "NEW YORK (AP)NEW YORK (AP) — A stunning 48 percent of the nation's homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed.

But that's not the worst of it.

The reckless lending practices in states like Florida, California and Nevada that were the epicenter of the housing crisis are no longer driving up the nation's delinquency rate. Instead, the foreclosure crisis now is being fueled by a spike in defaults in states like Louisiana, New York, Georgia and Texas, where the economies are rapidly deteriorating and thousands are losing their jobs.

A record 5.4 million American homeowners with a mortgage of any kind, or nearly 12 percent, were at least one month late or in foreclosure at the end of last year, the Mortgage Bankers Association reported. That's up from 10 percent at the end of the third quarter, and up from 8 percent at the end of 2007.

Prime and subprime fixed-rate loans saw sharp increases in the fourth quarter, a sign that the problem is now the economy.

"We're seeing increases in fixed-rate categories and that's where the problems are coming from," said Jay Brinkmann, the group's chief economist. "The foreclosure picture is more clearly driven by the jobs market."

That trend highlights one of the biggest challenges confronting the Obama administration's mortgage relief plan launched this week. While the $75 billion plan could help change the loan terms or refinance up to 9 million homeowners, unemployed borrowers will have a hard time qualifying.

On Thursday, the Labor Department said new unemployment claims last week totaled 639,000, lower than expected, but still at elevated levels. Factory orders also slipped for the sixth month in a row in January, the Commerce Department reported.

"There can be no doubt that employers continue to shed labor at a frightening pace, with no end in sight," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a client note Wednesday.

The key is what kind of workers are losing their jobs, Brinkmann said. Unemployment for people with college degrees, some college education or technical training — those most likely to own homes and have prime fixed-rate loans — has nearly doubled over the past six months.

In New York, for example, where the financial industry is handing out pink slips like ticker tape, homeowners who once had good credit are defaulting at an increasing clip.

The only bright spot in the report is the devastation wrought by subprime ARMs appears to be waning. Their 30-day delinquency rate continues to fall and is at the lowest point since the first quarter of 2007.

That offers little reassurance to Florida, where 60 percent of homeowners who have a subprime ARM are at least one payment behind and one in five of all mortgage holders aren't current.

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