How Does Lakewood Compare To The Top 100 Cities?

Jim O'Bryan · Post by **Jim O'Bryan** » Fri Aug 17, 2007 9:23 pm

http://money.cnn.com/magazines/moneymag ... 41664.html

See for yourself. Some items we lack other items that many would view as important we are much better than the average for the top 100 cities.

Especially crime, we are better!

Then go and read the future at:http://promo.realestate.yahoo.com/top_t ... ities.html

Top ten cities for foreclosures.

Stockton, California now leads the nation in foreclosures. Of RealtyTrac's top 10 metro areas for foreclosures, four are in Central California.

Coastal California cities are doing relatively well, although foreclosures are up there too. San Francisco had one foreclosure for every 263 households, a fairly low rate, but up 83 percent from the first six months of 2006.

Stockton recorded one foreclosure filing for every 27 households during the six months ended June 30, a 256 percent increase compared with the first six months of 2006.

Number two in the nation was Detroit, where job losses in the auto industry drove foreclosures higher. One of every 29 households recorded a foreclosure filing there, almost double the rate of a year ago. Las Vegas (one of 31, up 142 percent) was third.

Riverside/ San Bernardino (one in 33, up 198 percent),

Sacramento (one in 36, up 231 percent) and

Bakersfield (one in 47, up 222 percent).

Rounding out the top 10 were

Denver at No. 6,

Miami at No. 7,

Memphis at No. 9 and

Cleveland ranked 10th.

Do we still want to tie ourselves to Cleveland?

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sharon kinsella · Post by **sharon kinsella** » Sat Aug 18, 2007 4:16 am

The foreclosure debacle really is heartbreaking.

All those hopes and dreams of so many families thinking they would be a part of the "American Dream".

Their money poured into homes that will now be sold to the highest bidder.

The money these people lost, scrambling and borrowing to try and keep their homes, many of the families already on the edge.

It's very sad.

Jim O'Bryan · Post by **Jim O'Bryan** » Sat Aug 18, 2007 5:51 am

sharon kinsella wrote:The foreclosure debacle really is heartbreaking.

All those hopes and dreams of so many families thinking they would be a part of the "American Dream".

Their money poured into homes that will now be sold to the highest bidder.

The money these people lost, scrambling and borrowing to try and keep their homes, many of the families already on the edge.

It's very sad.

Sharon

I feel bad for those that over bought.

My heart goes out to those that were victims of predatory lending. I have been following the cork of Congressman Dennis Kucinich, that has been going after predatory lenders and the Federal Reserve in Cleveland that helped to make it possible here. It is heartbreaking.

Through his maps you can see "The Slaughter of Cities" going on in real time. Huge tracts of land all coming under foreclosure. sometime streets as word would spread form one to another about the "great deals" and low payback on variable rate loans, to fix up homes that were once paid off!

Now today, we read homes will be reduced in value across the board.

Some of us have been predicting this for years, while others read and laughed. We had hoped we were wrong but the pattern was clear, and it was either on purpose or complete idiots running the country. Nearly the same patterns running up to the Great Depression. Through in over borrowing and spending on a WAR THAT NEVER HAD TO BE FOUGHT, and you have a dream come true for the World Bank.

America's going third world, thanks to our leaders.

.

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Justine Cooper · Post by **Justine Cooper** » Sat Aug 18, 2007 7:55 am

Jim O'Bryan wrote: I feel bad for those that over bought.

.

When I first temporarily got a job for a lender in Philadelphia (because I could not make ends meet as a social worker and single mother there) what I saw was not greedy people over buying. What I saw was young, non-educated mortgage brokers, (who never were required to go to college and take ethics classes among others like accountants and lawyers who deal with people's money) getting rich quick by first targeting inner city homes. These were homes that people had lived in for years and had equity in, and the brokers went after them with the promises of all the money they could get from refinancing to pay off other bills, etc. etc. There was no law governing fees and these unscrupulous brokers charged thousands in hidden fees while refinancing homes to a variable or such a high interest rate they couldn't meet their mortgage payment anymore.

Yes there were people who also over spent during the period of time that the government refused to put any laws into effect to protect the people and the country from this. Wasn't Taft catering to these lenders? Mortgage Companies popped up EVERYWHERE in every state because you only needed a small fee to get a license and open your own businesses-NO HIGHER EDUCATION, nothing to hold you accountable for people's biggest investment of their life. Then all of the big name banks got in and opened their own non-conforming division.

I am glad to see many closed. And the ones out of jobs with degrees can get other jobs. The others can go back to school like the rest of us and pay for their right to earn a living instead of earning it off of other people's misfortune.

sharon kinsella · Post by **sharon kinsella** » Sat Aug 18, 2007 8:29 am

Justine and all -

I also worked for a mortgage refinancing business, but only for a month.

They were targetting folks who had bought HUD financed and VA financed homes, and trying to get them to refinance.

Since I am certainly not known as a math genius and the technical end of banking and finance has always been out of my spectrum, it took me a month to figure out that the gig was making commissions, period.

No such thing as compassion for the consumer in this business. A lot of strong arm tactics. and hard core sales techniques were used on people who never knew what hit them.

I left, disgusted, and went into selling cars, new and used. Believe it or not, the moral structure of car sales was much higher than the mortgage business I left. At least I could get a good fair price on a decent vehicle for many who would not otherwise have been able to afford it!

Stephen Eisel · Post by **Stephen Eisel** » Sat Aug 18, 2007 2:36 pm

John Edwards do as I say not as I do (clicky here)

As a presidential candidate, Democrat John Edwards has regularly attacked subprime lenders, particularly those that have filed foreclosure suits against victims of Hurricane Katrina. But as an investor, Mr. Edwards has ties to lenders foreclosing on Katrina victims.

Justine Cooper · Post by **Justine Cooper** » Sat Aug 18, 2007 4:57 pm

It doesn't surprise me if he is a politician. The government was not originally formed to ever take kickbacks or have ties to big companies that ruin this country.

sharon kinsella · Post by **sharon kinsella** » Sat Aug 18, 2007 7:15 pm

Not directly related to the thread but if we're going to talk about immoral holdings by politicians, how about Haleburten's no bid contracts and KRB's contracts - benefits to GWB and Cheney - compliments war in Iraq.

Stephen Eisel · Post by **Stephen Eisel** » Sat Aug 18, 2007 10:09 pm

sharon kinsella wrote:Not directly related to the thread but if we're going to talk about immoral holdings by politicians, how about Haleburten's no bid contracts and KRB's contracts - benefits to GWB and Cheney - compliments war in Iraq.

Kevin Galvin · Post by **Kevin Galvin** » Sat Aug 18, 2007 10:17 pm

I just have to ask, did anyone besides me go back and check to see if this was the Lakewood discussion area?

Is it conceivable that democrats and republicans were taken advantage of by democrats and republicans? I'm willing to bet that their may even have been some independents or third party members thrown in. I just don't recall being asked for party affiliation on my mortgage papers.

And now, back to the political debate, oops, I mean thread...

Stephen Eisel · Post by **Stephen Eisel** » Sat Aug 18, 2007 10:29 pm

Kevin Galvin wrote:I just have to ask, did anyone besides me go back and check to see if this was the Lakewood discussion area?

Is it conceivable that democrats and republicans were taken advantage of by democrats and republicans? I'm willing to bet that their may even have been some independents or third party members thrown in. I just don't recall being asked for party affiliation on my mortgage papers.

And now, back to the political debate, oops, I mean thread...

lol good post

sharon kinsella · Post by **sharon kinsella** » Sun Aug 19, 2007 6:25 am

Hey - Just throwing it back on the John Edwards comment.

Don't cry foul on one opportunist and then act all "I'm to kewl for this" when it's pointed out that he's not the only one.

It case no one got why I posted it!

Todd Shapiro · Post by **Todd Shapiro** » Sun Aug 19, 2007 6:56 am

Kevin didn't you know that whenever there is a problem in America it is the fault of GWB and Cheney. Heck, it probably Haliburton's fault I ate too much last night. That heat wave baking the mid-south the past week probably a Haliburton scheme to acquire more government contracts.Just remember when the Left says when they get caught with their pants down (LITERALLY) "It's a vast Right wing conspiracy"

Jim O'Bryan · Post by **Jim O'Bryan** » Sun Aug 19, 2007 7:52 am

Todd

Not to get drawn into this.

But when to take a country that was 5 years away from paying off the National Debt, and throw it into near bankruptcy over a war that was built on lies and did not have to be fought NOW. I think we can pin a lot of this BS on GWB and Cheney.

Now the move to overseas was started with Reagan, Bush 41, accelerated by Clinton, and sped up even more bu this regime.

Show me a politician, and I will show you someone I do not even want to get close enough to see if I can trust them as far as I can throw them.

The real problem is the American people that have turned a blind eye to morals, and America for the sake of a false sense of security and well being.

FWIW

.

Todd Shapiro · Post by **Todd Shapiro** » Sun Aug 19, 2007 8:15 am

Jim,

I will agree to disagree with you about the war in Iraq. And as someone who has studied history and political science, I will make the admission that at this point in time GWB would go down in history in the lower third of American Presidents. However, to blame GWB, Cheney or ANY politician for the mortgage crisis in this country is laughable. I know you are older then me so you can remember the time when having to take out a second mortgage on your home was something that was spoken about in hush-hush tones because it was shameful that you could handle your finances and you didn't want the neighbors to know you NEEDED a second mortgage. Jump forward to the past 10 years where we call these products home equity loans, and the term second mortgage has become refinancing your home. People tap the equity in their homes because they WANT a new car, vacation, or plamsa TV.
And the people who claim they didn't know what they were signing, how about reading a document and making sure you understand it before you sign it! The mortgage crisis like many other problems facing America could be solved by bringing some some old fashioned values and personal responsibility. THEN we can take a look at our political leaders because their are enough crooked ones on BOTH sides of the aisle.