Foreclosures Up 57%

Discussion in 'Other News' started by WiseOne, Feb 26, 2008.

  1. Feb 26, 2008 #1
    WiseOne

    WiseOne Inactive contact bullhaulerswife

    2,613
    1,225
    Feb 8, 2004
    Truckers Report, TN
    0
    Read More Here >> MSNBC



    WiseOne's Comments, I saw a TV show the other day where even repo's were up almost 50% too! I mean the repo lots are jammed full! Our economy cannot sustain this indefinitely. Are you one who took one of those moronic ARM loans? Do you feel stupid now, or do you blame everyone else and the mortgage companies? I mean I am about one of the dumbest people on earth and even I KNEW not to take out an ARM and I certainly knew I could not pay for a Cadillac Escalade...sigh. Oh, and I saw this coming...so, thankfully I have NO credit card debt, PHEW!

    :biggrin_25512:
     
    WiseOne, Feb 26, 2008
    WiseOne, Feb 26, 2008
    #1
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Feb 26, 2008 #2
    Brickman

    Brickman Trucker Forum STAFF Staff Member

    12,908
    12,210
    Sep 17, 2006
    WY
    0
    They haven't learned their lessons yet WiseOne.

    The buy here pay here dealers keep me busy hauling from the auctions and the repos load me coming back to the auction.
     
    Brickman, Feb 26, 2008
    Brickman, Feb 26, 2008
    #2
  4. Feb 26, 2008 #3
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

    28,629
    46,041
    Jul 23, 2007
    Midwest
    0
    My oldest is working part time for one of these types of dealers, and your right, they are doing a couple of repo's a week. People are usually not going to default on their home or their vehicle unless they don't have a choice, so we are currently in deep doooooo! Also, I'm working with a local Realtor right now on several extensions of their businesses, one being REO (repossession) service, for banks. They are tapping into the surge that the economy has created. If this doesn't stop soon, our homeless rate is going to be staggering.
     
    bullhaulerswife, Feb 26, 2008
    bullhaulerswife, Feb 26, 2008
    #3
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.