dumb asses

Home foreclosure rate soars in 2007

LOS ANGELES - The number of U.S. homes that slipped into some stage of foreclosure in 2007 was 79 percent higher than in the previous year, a real estate tracking company said Tuesday. Many homeowners started to fall behind on mortgage payments in the last three months, setting the stage for more foreclosures this year.
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Nevada had the highest foreclosure rate in the nation last year, with 3.4 percent of its households receiving foreclosure filings. That was more than three times the national average, RealtyTrac said.

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I can attest to the number of foreclosures in Nevada as just my neighborhood has had an absurd number of them.
I do feel bad for people who through no fault of their own have gone into foreclosure - lost jobs or what-have-you - but i have no sympathy whatsoever for fools who took ARM loans thinking that they were going to "flip this house" and lost out.
We bought a house that we could afford and made sure that we had payments that wouldn't be a problem for us and we have done fine.
People have to learn how to operate in the real world and not some fantasy land where they'll become overnight millionaires...