Sheriff refuses to foreclose & owners will refuse to pay
Mortgage Payment Revolt in Philly
By twist
From Reuters last Friday:
PHILADELPHIA (Reuters) - Authorities in Philadelphia will suspend foreclosure sales of homes whose owners have fallen behind on adjustable-rate subprime loan payments potential relief for tens of thousands of struggling debtors.
Sheriff John Green said on Friday he would halt sales of foreclosed properties in April and would seek a court order extending a moratorium for an unspecified period.
The response from this Philadelphian "People will stop paying their mortgages, because they know they will not be foreclosed on."
http://housingdoom.com/
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What this articles fails to mention is why the sheriff is doing it...there is no room for all the families that are becoming homeless in shelters or other public housing in high foreclosure rate states already.
Isn't it interesting that even after the number of people losing their homes are staggering, no one is really stopping to think where the majority of those people are going?
They know what will happen if ANY state cries out for help to the government with the overwhelming homeless population, when that happens FEMA is going to step in and be the Savior to the people by opening A CAMP or 2 to give them a safe warm place to stay. of course!
The question is the government ready for that next step? Are the people ready? Is the treasury and Fed getting ready for it by becoming the next government agency to take (more) blame/power?
All I know is that it appears that the dominoes are set and the road to hell is just one more trigger away from becoming a realityto know from where the last stumble is coming from is anybody guest.
You have to give it to some government agencies or should I say some of the people that work there? Although they got you in this mess. They have to try in their own stupid or maybe not so stupid (depends on your view) way to stave it off for as long as they could, I dont think that even they foresaw all the situations coming together like this to catapult us into an inescapable road.
The conclusion is simple, Darwins laws will once again reign supreme in nature..how we got here matters not, the question that all of us should be asking ourselves is AM I FIT TO SURVIVE? Physically, intellectually, financially, and emotionally. If the answer is no well by statements you have less then 90 days (being gracious) before something not just financially starts the dominoe effect again, with no way of stopping it.
My advice to all is not to waste time asking why? how? or when?
but what? and where? What will you do? where will you go? AFTER it starts.
